https://www.taxtmi.com/caselaws?id=66327 The Tribunal ruled in favor of the firm, holding that the Income Tax Officer's decision to refuse continuation of registration based solely on a best judgment assessment was not valid. The Tribunal emphasized the discretionary nature of the ITO's power under section 185(5) and the requirement for proper reasons for refusal. It directed the ITO to reconsider the registration based on merits, citing previous court decisions that registration cannot be automatically denied after a best judgment assessment. The firm's appeal was allowed, stressing the importance of a fair and reasoned assessment of registration even post best judgment assessment. en-us Sat, 26 Jul 1986 00:00:00 +0530 Wed, 23 Feb 2011 15:54:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66327 The Tribunal ruled in favor of the firm, holding that the Income Tax Officer's decision to refuse continuation of registration based solely on a best judgment assessment was not valid. The Tribunal emphasized the discretionary nature of the ITO's power under section 185(5) and the requirement for proper reasons for refusal. It directed the ITO to reconsider the registration based on merits, citing previous court decisions that registration cannot be automatically denied after a best judgment assessment. The firm's appeal was allowed, stressing the importance of a fair and reasoned assessment of registration even post best judgment assessment. Case-Laws Income Tax Sat, 26 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66327