Ref:Best Assessment Judegement
This query is : Resolved
03 December 2009
Hi
Under what circumstances Best Assessment Jundment made u/s 144 of Income tax act 1961.
regards
hemanth
Under what circumstances Best Assessment Jundment made u/s 144 of Income tax act 1961.
regards
hemanth
03 December 2009
1) fails to file return u/s 139(1)/139(4)/139(5).
2)fails to comply with the provisions of 142(1) or 142(2A).
3)fails to comply with 143(2).
2)fails to comply with the provisions of 142(1) or 142(2A).
3)fails to comply with 143(2).
03 December 2009
agree with Warrier sir
03 December 2009
In addition to Mr. Warrier, Assessing Officer is also empowered to make best judgement assessment as provided in section 144 in the following situation:
a) Where the Assessing Officer is not satisfied about the correctness or completeness of the accounts of the assessee.
b) Where the method of accounting has not been regularly followed by the assessee.
c) Where the Accounting Standards notified by the Central Government u/s 145(2) have not been regularly followed by the assessee.
a) Where the Assessing Officer is not satisfied about the correctness or completeness of the accounts of the assessee.
b) Where the method of accounting has not been regularly followed by the assessee.
c) Where the Accounting Standards notified by the Central Government u/s 145(2) have not been regularly followed by the assessee.
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