Wealth-Tax Act, 1957

Section - 16A - Reference to Valuation Officer

⁸⁰[Reference to Valuation Officer.⁸¹

16A. (1) For the purpose of making an assessment (including an assessment in respect of any assessment year commencing before the date of coming into force of this section) under this Act, ⁸²[where under the provisions of section 7 read with the rules made under this Act, or, as the case may be, the rules in Schedule III, the market value of any asset is to be taken into account in such assessment,] the ⁸³[Assessing Officer] may refer the valuation of any asset to a Valuation Officer-

(a)	-	in a case where the value of the asset as returned is in accordance with the estimate made by a registered valuer, if the ⁸³[Assessing Officer] is of opinion that the value so returned is less than its fair market value ;
(b)	-	in any other case, if the ⁸³[Assessing Officer] is of opinion-

⁸⁴(i)

Google Play store