2009 (8) TMI 749

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..... st the order dated January 27, 2008, annexure A-3, passed by the Income-tax Appellate Tribunal, Chandigarh Bench "A", Chandigarh in I. T. A. No. 497/Chd/2007 for the assessment year 2004-05, proposing to raise the following question of law :   "Whether on the facts and in the circumstances of the case, the learned Income-tax Appellate Tribunal was right in law in setting aside the order of t .....

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..... It was held that the Commissioner of Income-tax (Appeals) was not jus- tified in interfering with the assessment when books of account had not been produced. No doubt the best judgment assessment could not be arbitrary, but some guess work was inevitable. Mere fact that the assessee declared income which was almost equal to the income assessed in the previous year, could not be conclusive. The ass .....

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..... 002] 257 ITR 764 ; [2003] 130 Taxman 615 (Mad).   5. We are unable to accept the submission. 6. The rate to be applied, having regard to features of an individual case, depends on the facts of each case. In the absence of reasons being perverse, the finding of the Tribunal is final. The assessment for the previous year may be a guide but is not binding for making assessment for subsequent y .....

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