Liquefaction of soil resulted in severe damage of different structures and lifeline services in the past. Mainly standard penetration and cone penetration test (SPT and CPT) results are generally used for calculations of liquefaction potential of soil. However, liquefaction potential of soil can also be estimated more effectively by dilatometer test (DMT) due to its ability to detect soil stress history and aging. This paper evaluates liquefaction potential of soil (at Sonarpur near Kolkata) by SPT method. Thereafter, cyclic resistance ratio (CRR) has been calculated from one DMT parameter, horizontal stress index (KD). CRR–KD boundary curves have been established based on the data obtained from DMT tests done at the site. Further attempt has been made to study the assessment of liquefaction potential and probability of liquefaction using NovoLIQ software. The results obtained from SPT, DMT, and NovoLIQ software have been compared. In addition to this post-liquefaction parameters, such as lateral displacement, vertical settlement, residual shear strength and the like, have been obtained with the help of NovoLIQ software for the particular site.