Best judgment assessment clarifies estimating taxable income when assessee fails to cooperate using available information. Best Judgment Assessment establishes the administrative mechanism by which an Assessing Officer estimates an assessee's taxable income when the assessee ... Summary
Best judgment assessment clarifies estimating taxable income when assessee fails to cooperate using available information.
Best Judgment Assessment establishes the administrative mechanism by which an Assessing Officer estimates an assessee's taxable income when the assessee does not cooperate in assessment proceedings or when reliable computation cannot be made from the books of account, using available information and resources to approximate correct profit and tax liability.
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