The Central Board of Direct Taxes on 30th March, 2022 has issued the Faceless Inquiry or Valuation Scheme, 2022. As per the scheme, making inquiry before assessment, directing the assessee to get his accounts audited and estimating the value of any asset, property or investment by a Valuation Officer as per Income Tax Act, shall be in a faceless manner, through automated allocation.
“Automated allocation” means an algorithm for randomized allocation of cases, by using suitable technological tools, including artificial intelligence and machine learning, with a view to optimize the use of resources.
