https://www.taxtmi.com/caselaws?id=187260 A decision on the income-tax appellate scheme explains that where an assessee follows the statutory sequence from a fresh assessment application to an appeal heard and decided on merits, the Assistant Commissioner's determination constitutes an order under Section 31, supporting a reference to the High Court. It also states that a best judgment assessment under Section 23(4) is not an unfettered power: it must rest on a rational basis and conform to justice, equity and good conscience. However, where the assessment was made after enquiry and was found neither arbitrary nor unreasonable, the abstract challenge failed and no reference was called for. en-us Tue, 08 Aug 1933 00:00:00 +0530 Sat, 15 Oct 2016 18:36:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187260 A decision on the income-tax appellate scheme explains that where an assessee follows the statutory sequence from a fresh assessment application to an appeal heard and decided on merits, the Assistant Commissioner's determination constitutes an order under Section 31, supporting a reference to the High Court. It also states that a best judgment assessment under Section 23(4) is not an unfettered power: it must rest on a rational basis and conform to justice, equity and good conscience. However, where the assessment was made after enquiry and was found neither arbitrary nor unreasonable, the abstract challenge failed and no reference was called for. Case-Laws Income Tax Tue, 08 Aug 1933 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187260