S.144- Best judgment assessment.
Last updated: 08 January 2008
Court :
Supreme Court
Brief :
It is well-settled that in a best judgment assessment, there is always a certain degree of guess work. No doubt, the authorities concerned should try to make an honest and fair estimate of the income even in a best judgment assessment, and should not act totally arbitrarily, but there is necessarily some amount of guess work involved in a best judgment assessment.[Para 11]
Citation :
Kachwala Gems vs. Joint Commissioner of Income Tax, Jaipur,Civil Appeal No. 5809 of 2006
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kavita jain
Published in Income Tax
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