Determination of taxable income - Best Judgment Assessment u/s ...

Assessment Officer's Best Judgment u/s 144 Lacks Proper Data Review for Fair Income Determination.

January 1, 2016

Case Laws Income Tax AT

Determination of taxable income - Best Judgment Assessment u/s 144 - AO failed to collect details by exercising his power in order to determine the fair income of the assessee. He ought to have looked into the earlier and subsequent years details available with the department before determining the income of the assessee. - AT

View Source

← Previous Next →

Determination of taxable income - Best Judgment Assessment u/s ...

Assessment Officer's Best Judgment u/s 144 Lacks Proper Data Review for Fair Income Determination.

January 1, 2016

Case Laws Income Tax AT

You may also like:

The ITAT upheld the CIT(A)'s decision to reject the assessee's books of accounts under section 145 and estimate income under section 144. The Tribunal clarified that...

Section 144 empowers the Assessing Officer to proceed with best judgment assessment if the assessee fails to file return. Petitioner appeared through counsel but did not...

Best judgement assessment u/s 144 - CIT(A) wrongly substituted the best judgement of the AO with his own judgement contrary to the provisions of section 144 of the Act

Validity of Best judgment assessment - Assessment u/s 153C - since petitioner has filed a return, no best judgment assessment u/s 144 of the Act could have been passed -...

Validity of assessment u/s 144 without issuing notice - best judgment assessment - the assessment was patently illegal - HC

Best Judgement assessment u/s 144 - Estimation of income - The Assessing Officer issued notices under section 143(2) as well as various notices issued under sections...

Best judgement assessment - There appears to be divergents views insofar as the question as to whether the consumption of electricity can constitute the sole basis for...

Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

HC quashed best judgment assessments made by Income Tax Officer, Baddi without complying with Section 127 transfer of jurisdiction requirements of giving reasonable...

Validity of Assessment order - void ab-initio or not - assessment u/s.144 - despite many opportunities, the assessee did not respond to the AO. That even before making...

Validity of notice proposing for Best Judgement assessment u/s 144 - Failure to file ITR in response to notice u/s 148 r.w.s. 142(1) due to medical reasons and recovery...

Best Judgement assessment u/s 144 - estimation of income @12 or 8% - keeping in mind the judicial guideline available on issue, that after rejection of accounts, the...

Section 28A of the Haryana General Sales Tax Act, 1973 dispenses with the requirement of a second notice and opportunity of personal hearing before proceeding with best...

The High Court quashed the reopening of assessments u/s 148, holding that the reasons recorded by the Assessing Officer were cryptic, vague, lacking nexus, and...

Assessment made u/s 144 r.w.s. 142(1) OR 153C - The Tribunal held that the assessment made u/s 144 r.w.s. 142(1) for A.Y. 2012-13, based on the satisfaction recorded on...

Quick Updates: