https://www.taxtmi.com/caselaws?id=191236 Failure to comply fully with a notice requiring production of account books can justify a best judgment assessment under section 23(4), even where the assessee produced books for the relevant year, because the Income-tax Officer may require earlier years' books to verify the return. Prior acceptance of an explanation for loss of books does not operate as res judicata or estoppel in later income-tax years; it may be departed from where the earlier acceptance was not reached after due enquiry or where fresh material supports a different view. A challenge to the estimated quantum raises no question of law unless it was properly raised before the Tribunal and in the reference application. en-us Fri, 28 Mar 1952 00:00:00 +0530 Sat, 25 Mar 2017 13:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191236 Failure to comply fully with a notice requiring production of account books can justify a best judgment assessment under section 23(4), even where the assessee produced books for the relevant year, because the Income-tax Officer may require earlier years' books to verify the return. Prior acceptance of an explanation for loss of books does not operate as res judicata or estoppel in later income-tax years; it may be departed from where the earlier acceptance was not reached after due enquiry or where fresh material supports a different view. A challenge to the estimated quantum raises no question of law unless it was properly raised before the Tribunal and in the reference application. Case-Laws Income Tax Fri, 28 Mar 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191236