Income tax

Tax queries 359 views 1 replies

A survey has been conducted by the income tax dept. and seized the accounts of a medical practioner but only found 2 months books of accounts and the officers calculated the income of practioner on average basis for the whole year.

It is not correct i know but my question is what should the basis of calculation of income for the same, and also mention the case law(s), if any to support your answer.

I'm very anexious for this ..

please suggest me soon?????

Replies (1)

Look, the AO is empowered under section 144 to issue a best judge assessment order. But an opportunity shoudl be given to the assessee to show cause. The power is indeed discretionary on AO's part.


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