Income-tax Rules, 2026 | Rule 173 of 333

Rule 173 - Jurisdiction of Valuation Officers under section 269

Reviewed by CA Nikhil Gupta · Last reviewed 29 August 2026

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Primary authority: Notification No. 22/2026 / G.S.R. 198(E)

Currentness control: Base Rules effective 1 April 2026. Check later amendments, corrigenda and portal implementation before action.

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Valuation officer jurisdiction. 173. (1) Regional Valuation Officers shall exercise, within such areas as the Board may direct, general supervision over the work of District Valuation Officers, Valuation Officers and Assistant Valuation Officers, for the purposes of section 2(110) read with section 269 of the Act - with references assigned by asset value: District Valuation Officers generally handle assets exceeding Rs 5 crore, Valuation Officers assets between Rs 1 crore and Rs 5 crore, and Assistant Valuation Officers assets up to Rs 1 crore. (2)-(4) For a reference under section 78(2), the applicable value is the stamp duty value of the capital asset; for a reference under section 91(1), it is the value claimed by the assessee; and in other cases, it is the latest value declared in the assessee's return of income for any tax year (or, where unavailable, as directed by the District Valuation Officer). (5)-(6) A higher-ranking officer in this hierarchy may, where necessary or expedient for efficient management, assume and exercise the functions otherwise assigned to a lower-ranking officer under this rule. (7) An asset's valuation under this rule is considered in respect of the asset as a whole, whether owned by the assessee individually or jointly with others. The precise numbering and exact wording of sub-rules (2) through (7) should be verified against the official consolidated text; the description above reflects the rule's confirmed substantive content rather than a verbatim quotation throughout.

Local extract SHA-256: 0ea634fb9ab66cf7eb72e972b9ccc2be1eabda0ebd77327d5db19efb4bee7ad6. This hash authenticates the local extract only; it does not certify that every amendment, table or Gazette footnote has been consolidated.

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Official starting point: www.incometaxindia.gov.in

Page source links

Notification No. 22/2026 / G.S.R. 198(E)