Section 144 of the income tax act, 1961
pratik
(Querist) 26 May 2009
This query is : Resolved
1.)what do u mean by best judgment assessment under section 144 of the income tax act, 1961 in detail. with suitable example.
Note : (To the expert do write any thing vague if u have the answer than only reply no need to say u should go & meet the advocate etc............)
so to say this but i have to.
arorars_05
(Expert) 26 May 2009
Dear Mr Pratik,
Best Judgment asstt. U/S 144 of the Income Tax Act, 1961 means the AA has complete the asstt. proceedings when the assessee could not appear before the AA and to provide the required information called by the AA.
For Example.
If the AA has Issued notice U/S 143(2) of the Income Tax Act, 1961 to 'A'to appear before the AA in Particular A.Y. himself or through authorized representative and provide the required information on a particular date and the assessee could not appear on the date fixed for hearing. After doing all the effeorts by the AA to contact the assessee and no body is appear before him without reasonable cause and provide the necessary information in that case the AA completed the asstt.proceedings U/S 144 of the Income Tax Act, 1961 on the basis of information with him.
A V Vishal
(Expert) 26 May 2009
Pratik,
Basically understand this is a interactive platform, you are turning this into a virtual coaching centre, you claim to be working for a CA, there are the Income Tax and Other Financial acts available in the CA office. You need to refer them and ask any specific query you have. You want us to explain in detail that too with suitable examples which is not possible. Being a employee with a CA don't expect spoon feeding, you need to work out and do your home work properly before approaching the forum with your queries.
