§ 91
Chapter IV — Computation Of Total Income
Reference to Valuation Officer
Income-tax Act, 2025
The Assessing Officer can refer the valuation of a capital asset to a Valuation Officer if the claimed value seems incorrect or if it exceeds the claimed value by a certain percentage. This can happen in cases where the assessee's estimate is based on a registered valuer's report but the Assessing Officer disagrees. The referral is also possible if the nature of the asset or other circumstances require it.
- The specific percentage or amount for referral is to be prescribed.
📜 Official text of the section +
91. (1) For ascertaining the fair market value of a capital asset for this
Chapter, the Assessing Officer may refer the valuation of the capital asset to a
Valuation Officer,—
( a) if the value of the asset claimed by the assessee is as per the estimate by
a registered valuer, but the Assessing Officer is of the opinion that the
value so claimed is at variance with its fair market value;
( b) in any other case, if the Assessing Officer is of the opinion that—
( i) the fair market value of the asset exceeds the value claimed by
the assessee by more than the percentage of value of such asset or
amount, as may be prescribed; or
( ii) having regard to the nature of the asset and other relevant circum-
stances, it is necessary so to do.
(2) The provisions of section 269(3) to (8) shall, with necessary modifications,
apply in relation to such reference made under sub-section (1).
F.—Income from other sources
Income from other sources.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.