Case Law Analysis
|Gujarat High Court
Section 142A Valuation Reference | Colourable Exercise to Extend Limitation Quashed as AO Had Material for Six Months : Gujarat HC
The Gujarat High Court quashed a Section 142A valuation reference initiated one day before the limitation period expired, ruling it a colourable exercise of power since the Assessing Officer held all necessary material for six months yet remained inactive. The decision prevents revenue authorities from using valuation references as a tactic to artificially prolong assessment proceedings.