I am trying to automate the process for setting the Version for all DLL's, after spending some time I came to know the AssemblyInfo Task with which it can most likely be achieved.
So I went ahead and installed it, specifically version 1.0.51130.0.
After Installing, I manually added the Import Tag (by unloading the each project) of AssemblyInfoTask in .cspoj files (the solution has more than 35 proj files).
<Import Project="$(MSBuildExtensionsPath)\Microsoft\AssemblyInfoTask\Microsoft.VersionNumber.Targets"/>
Next I modified the Microsoft.VersionNUmber.Target file which will be installed in path: C:\Program Files\MSBuild\Microsoft\AssemblyInfoTask, and I modified the following section: 
<!-- Properties for controlling the Assembly Version -->
<PropertyGroup>
    <AssemblyMajorVersion>4</AssemblyMajorVersion>
    <AssemblyMinorVersion>0</AssemblyMinorVersion>
    <AssemblyBuildNumber></AssemblyBuildNumber>
    <AssemblyRevision></AssemblyRevision>
    <AssemblyBuildNumberType>DateString</AssemblyBuildNumberType>
    <AssemblyBuildNumberFormat>01MMdd</AssemblyBuildNumberFormat>
    <AssemblyRevisionType>AutoIncrement</AssemblyRevisionType>
    <AssemblyRevisionFormat>00</AssemblyRevisionFormat>
</PropertyGroup>
<!-- Properties for controlling the Assembly File Version -->  
<PropertyGroup>
    <AssemblyFileMajorVersion>4</AssemblyFileMajorVersion>
    <AssemblyFileMinorVersion>0</AssemblyFileMinorVersion>
    <AssemblyFileBuildNumber></AssemblyFileBuildNumber>
    <AssemblyFileRevision></AssemblyFileRevision>
    <AssemblyFileBuildNumberType>DateString</AssemblyFileBuildNumberType>
    <AssemblyFileBuildNumberFormat>01MMdd</AssemblyFileBuildNumberFormat>
    <AssemblyFileRevisionType>AutoIncrement</AssemblyFileRevisionType>
    <AssemblyFileRevisionFormat>00</AssemblyFileRevisionFormat>
</PropertyGroup>
Next I set the assemblyInfo.cs file's version to 1.0.0.0 in every project. Finally I saved and close it, reopened solution, and built. It works like a champ!
Now what want is to customize the Version to 4.0.1053.1 where 10 is the part of year indicator which is 2010 and 53 denotes the week number, at last 1 denotes revision number.
How to achieve this using the AssemblyInfo Task? I came across several posts that a new version of AssemblyInfo Task is available in Build Extension Pack.
I have installed the MSBuild Extension Pack December 2010 and its version is MSBuild Extension Pack 4.0.2.0 Installer
 
     
     
     
     
     
     
     
    