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of <h1>Assessment Under Section 144: Best Judgment Method Used When Criteria Met, Notice May Be Waived If Prior Notice Issued.</h1> Assessment under section 144, known as best judgment assessment, is conducted based on the Assessing Officer's discretion when certain conditions are met. The process involves serving a notice to the taxpayer to justify why the assessment should not be completed using the officer's judgment. This notice is not required if a prior notice under section 142(1) has been issued. If the taxpayer's arguments are unsatisfactory, the officer will proceed with the assessment, considering all relevant information and providing the taxpayer an opportunity to be heard, ultimately determining the income or loss and the payable amount.
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