CA Final · Direct Tax Laws & International Taxation · Assessment Procedure
In a faceless assessment of Raman Traders, the assessment unit needs a valuation of a property held by the assessee. Under Rule 176, what is the correct route for obtaining this?
The assessment unit must make a request through the National Faceless Assessment Centre for technical assistance on valuation of property. The Centre then assigns it to a technical unit through an automated allocation system. Direct contact or personal appearance is not part of the faceless procedure.
- AThe assessment unit directly summons the valuer and records his statement in person
- BThe assessment unit requests, through the National Faceless Assessment Centre, technical assistance from a technical unit, which the Centre assigns through an automated allocation systemCorrect
- CThe assessee is required to appear in person before the assessment unit to explain the valuation
- DThe assessment unit refers the matter straight to the Dispute Resolution Panel
Explanation
Under Rule 176(2)(d)(iii), the assessment unit may request, through the National Faceless Assessment Centre, technical assistance in respect of valuation of property. Under clause (f), the Centre assigns such a request to a technical unit through an automated allocation system. Direct contact with the assessee or others is not the prescribed route, and the Dispute Resolution Panel does not handle valuation requests.
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