Best Judgement assessment u/s 144 - estimation of income @12 or ...

Income Tax

August 20, 2019

Best Judgement assessment u/s 144 - estimation of income @12 or 8% - keeping in mind the judicial guideline available on issue, that after rejection of accounts, the income of the assessee is to be estimated on some reasonable basis for which comparable case and history of the assessee can be taken as a guide - it is fair, reasonable and logical to apply an average rate of two earlier years(@3.5%)

View Source

← Previous Next →

Best Judgement assessment u/s 144 - estimation of income @12 or ...

Income Tax

August 20, 2019

You may also like:

Best judgement assessment u/s 144 - CIT(A) wrongly substituted the best judgement of the AO with his own judgement contrary to the provisions of section 144 of the Act

Validity of assessment u/s 144 without issuing notice - best judgment assessment - the assessment was patently illegal - HC

Best Judgement assessment u/s 144 - Estimation of income - The Assessing Officer issued notices under section 143(2) as well as various notices issued under sections...

Best judgment assessment - Order of ITAT modified for determining the profit rate @ 8% instead of 12.5% on gross contract receipt subject to allowing depreciation,...

Validity of Best judgment assessment - Assessment u/s 153C - since petitioner has filed a return, no best judgment assessment u/s 144 of the Act could have been passed -...

Best Judgement Assessment u/s 144 - if the conditions precedent for the assumption of jurisdiction under Section 144 of the Act are not present, the order of assessment...

Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

Validity of Assessment order - void ab-initio or not - assessment u/s.144 - despite many opportunities, the assessee did not respond to the AO. That even before making...

Best judgement assessment - There appears to be divergents views insofar as the question as to whether the consumption of electricity can constitute the sole basis for...

Adhoc disallowance of expenses - AO could ventured into estimation only after rejecting the books of accounts of the assessee u/s 145(3) by best judgment assessment u/s...

Quick Updates: