Posted October 27, 2013 by advocateguru in Learning Centre

Discretionary Best Judgement Assessment

Discretionary best judgement assessment is done even in cases where the assessing officer is not satisfied about the correctness or the completeness of the accounts of the assessee or where no method of accounting has been regularly and consistently employed by the assessee Judgment is a process of reaching a judicial decision to the best of the reasons. Best Judgement Assessment u/s 144 of the Income Tax Act, 1961 gives an Assessing Officer (AO) the power to make best of his judgement against person who fails to supply relevant information with regard to his total income/loss and resolve the sum payable by the assessee on the basis of such assessment.