https://www.taxtmi.com/caselaws?id=212083 Best judgment assessment under section 144 cannot be sustained unless the Assessing Officer first records a reasoned dissatisfaction, based on relevant material, that the books of account are incorrect or incomplete under section 145(3). Where the books are duly audited, no specific defect or inaccuracy is identified, and the alleged suppression rests only on general assertions or unsubstantiated departmental allegations, rejection of the books is not justified. In the absence of express or implied rejection of the accounts and corroborative evidence of suppression, estimation of income is invalid and unsustainable, resulting in a finding in favour of the assessee. en-us Tue, 31 Jan 2012 00:00:00 +0530 Tue, 24 Mar 2026 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212083 Best judgment assessment under section 144 cannot be sustained unless the Assessing Officer first records a reasoned dissatisfaction, based on relevant material, that the books of account are incorrect or incomplete under section 145(3). Where the books are duly audited, no specific defect or inaccuracy is identified, and the alleged suppression rests only on general assertions or unsubstantiated departmental allegations, rejection of the books is not justified. In the absence of express or implied rejection of the accounts and corroborative evidence of suppression, estimation of income is invalid and unsustainable, resulting in a finding in favour of the assessee. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212083