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Sec. 145(3) r/w sec. 144

Ayush Aggarwal (PARTNER) (31 Points)

19 February 2014

Whether assessing officer can make best judgement assessment after rejecting books of accounts u/s 145 (3) but without serving show cause notice mandated u/s 144 of the income tax act.

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CA. Kuldeep Singhi (Entrepreneur) (424 Points)
Replied 19 February 2014

Proviso as written in Sec.144- Provided further that it shall not be necessary to give such opportunity in a case where a notice under sub-section (1) of section 142 has been issued prior to the making of an assessment under this section.

So since previous notice was issued to u under Sec.142(1) & then books were rejected under Sec.145(3) hence no need to serve show cause notice for making best judgement assessment u/s 144 in ur case.