Income Tax Law: Best Judgment Provision Ensures Accurate Income Assessment Based on Evidence, Not Arbitrary Estimates.

Income Tax Law: Best Judgment Provision Ensures Accurate Income Assessment Based on Evidence, Not Arbitrary Estimates. https://www.taxtmi.com/highlights?id=34190 The best judgment is not a provision to penalize the assessee and resort to wild estimate but it is a machinery provision which is to be based on assessing the correct income and that too based on material and evidence having live link nexus with the income which is to be assessed - AT en-us Fri, 07 Apr 2017 08:33:57 +0530 Fri, 07 Apr 2017 08:33:57 +0530 TaxTMI RSS Generator Income Tax Law: Best Judgment Provision Ensures Accurate Income Assessment Based on Evidence, Not Arbitrary Estimates. https://www.taxtmi.com/highlights?id=34190 The best judgment is not a provision to penalize the assessee and resort to wild estimate but it is a machinery provision which is to be based on assessing the correct income and that too based on material and evidence having live link nexus with the income which is to be assessed - AT Highlights Income Tax Fri, 07 Apr 2017 08:33:57 +0530 https://www.taxtmi.com/highlights?id=34190