How the Income Tax Department and Other Government Agencies Appoint Capital Gain Valuers
Government agencies do not appoint a capital gain valuer simply because a person describes themselves as a valuation expert. The appointment operates within the statutory, institutional or enforcement framework applicable to the assignment.
APPOINTMENT
Section 132 Search Appointments
Under Sections 132(2) and 132(9D) of the Income Tax Act, the Authorised Officer conducting a search-and-seizure may require a registered capital gain valuer to value any capital asset discovered during the search — cash, jewellery, property documents, artworks, business assets, or share certificates.
The registered valuer is appointed on-site or immediately after the search, inspects the assets, provides a preliminary valuation for the seizure record, and issues a formal valuation report meeting the applicable Section 132 standards.
The report directly determines the assessed value of the undisclosed capital asset and the assessee’s resulting tax liability.
Nitesh Shrivastava has been appointed under both sections by the Income Tax Department for PAN India search-and-seizure capital asset valuations — the most demanding and most scrutinised capital gain valuation context in India.
Registered Valuer as Expert Witness
Indian courts — the Delhi High Court, state High Courts, the ITAT, District Courts, and family courts — may appoint registered capital gain valuers as expert witnesses when capital gain valuation is a disputed question in litigation.
In ITAT proceedings where the Assessing Officer’s substituted valuation is contested, the Bench may appoint an independent registered valuer to provide a third-party assessment, or may assess the competing registered-valuer reports submitted by the assessee and the Department.
Nitesh Shrivastava has provided expert capital gain valuation evidence in IT assessment, ITAT, and civil court proceedings.
Banks — NPA & SARFAESI Appointments
Where capital assets are held as collateral for bank loans and the borrower defaults, the bank’s NPA-resolution and SARFAESI process requires an empanelled registered valuer to establish the current fair market value of the capital asset and set the SARFAESI auction reserve price.
This is a capital gain valuation in substance — establishing the FMV of the asset at the current date for the bank’s recovery proceedings.
A2Z Valuers is empanelled with leading Indian banks for capital asset valuation in NPA and SARFAESI contexts.
GST, Narcotics & Customs Appointments
Capital asset valuation can become a critical component of investigation, enforcement and assessment proceedings. Each appointment reflects the valuation requirement of the relevant government agency and the specific assets under examination.
GST Department
Nitesh Shrivastava has been appointed by the GST Department for capital asset valuations during GST investigation proceedings where the value of transferred capital assets is a contested assessment factor.
Narcotics Department
The practice has been appointed for capital asset valuations involving assets discovered during narcotics enforcement proceedings.
Customs Department
The practice has been appointed for capital asset valuations at Indian ports and border crossings for customs duty purposes.
Each of these appointments reflects the relevant government agency’s independent assessment that the practice meets the standard required for its specific enforcement context.
Need a Government Approved Capital Gain Valuer?
Brief A2Z Valuers with the asset details, statutory purpose and required timeline to establish the appropriate valuation engagement.