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2012 (12) TMI 120 - AT - Income TaxBest Judgement assessment - comparison - held that:- if comparisons are to be made then the best comparison is of the assessee’s performance itself as stated is universally accepted and in the eventuality comparisons are to be made with outsiders then the parties with whom comparison are being made the relevant facts applicable to them have to be disclosed to the assessee so as to enable the assessee to give an effective representation. To make a comparison with a business concern whose particulars are not known to the assesee cannot be upheld as merely confronting the names cannot be said to be affording a genuine and effective opportunity of being heard as relevant facts have not been disclosed. The AO must take into consideration the local practices and also refer to previous record of the assessee and consider comparables after confronting these facts of the assessee so as to arrive at a fair and proper estimate if best judgment has to be resorted to. The AO while making the best judgment is not entitled to ignore the assessee’s own history as what better comparison then ones own past. Thus, the assessee’s own case can be considered and if still need be felt judicially to make comparisons with comparables, then it can be done only after confronting their facts to the assessee. Rejection of books of accounts – Held that:- Contended that in the timber business it is not possible to maintain item wise details as after sawing in different sizes it is recognized as timber like wise as in the trade of marble purchased and sold it is described as marble the day to day stock register is maintained - failure on the part of the assessee in not maintaining stock register it was stated can be a ground for suspicion however, if explanation of the assessee that it is not practical or feasible in the line of business is to be considered - issue is restored back to the file of the AO
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