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TMI Blog2015 (9) TMI 388X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment under section 143(3) and by mistake he recorded to have passed the same under section 144. The submission that in an assessment under section 144 the assessing officer can make disallowances may be correct in the backdrop that the assessee may raise contentions disputing the materials collected by the assessing officer and allowances claimed in the defence to be taken by the assessee the assessing officer may have occasion to make disallowances. He has exercised power under section 145 because the books of accounts are not believable because the books of accounts according to him are neither correct, nor complete. If the assessing officer in such a case wishes to make an assessment under section 144, he has to make such a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee has no basis. As such the statement of account filed by the assessee along with the return is rejected u/s.145(3) since the assessee failed to satisfy the conditions of correctness and completeness of the statement of account by way of filing supporting evidences. As such the assessment is being completed u/s 144 in the following manner, considering the information and documents available in the record. It would appear that in both the assessment orders, the assessing officer proceeded to make the assessment under section 144 for reasons indicated above. Section 144 provides for best judgement to be made by the assessing officer after taking into account all relevant materials which he has gathered after giving an opportunity ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Returned business income (% of Turnover) 1,35,952 (1.75% 1.61.590 (2%) 3,23,421 (1.04%) 1,95,102 (1.31%) 3,41,699 (2.46%) 1,006,108 (2.99%) 1,000,039 (2.81%) 13,63,030 (2.75%) 1,584,826 (2.34%) 1,410,314 (1.56%) Assessed business Income (% of Turnover) 10,49,300 (12.86%) 69,48,690 (22.42%) 80,27,534 (53.76%) No Assessment u/s. 143(3) 11,85,400 (3.52%) No Assessment u/s. 143(3) 14,25,320 (2.88%) No assessment u/s. 143(3) 42.3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... though there must necessarily be guess-work in the matter, it must be honest guess- work. In that sense, too, the assessment must be to some extent arbitrary. Their Lordships think that the section places the officer in the position of a person whose decision as to amount is final and subject to no appeal, but whose decision if it can be shown to have been arrived at without an honest exercise of judgment, may be revised or reviewed by the Commissioner under the powers conferred upon that official by s.33. Therefore, the question which arises for consideration is, whether it was open to the assessing officer to make the assessment under section 144, otherwise than, on the basis of all relevant materials which the assessing officer ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he defence to be taken by the assessee the assessing officer may have occasion to make disallowances. He has exercised power under section 145 because the books of accounts are not believable because the books of accounts according to him are neither correct, nor complete. If the assessing officer in such a case wishes to make an assessment under section 144, he has to make such assessment only in accordance with section 144. An assessing officer is a creature of the statute. He can exercise power either in accordance with the statute or not at all. If any authority is needed reference may be made to the judgement in the case of Bhavnagar University v. Palitana Sugar Mill (P) Ltd. reported in 2003(2)SCC 111 wherein the following view ..... X X X X Extracts X X X X X X X X Extracts X X X X
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