https://www.taxtmi.com/caselaws?id=7951 Where an assessee failed to comply with statutory notices and did not produce the required books, section 23(4) permitted a best judgment assessment and, in a firm's case, refusal or cancellation of registration. The power was not automatic merely because the assessment was made under that provision; the Income-tax Officer had to act on relevant materials and exercise discretion on judicial standards. On the stated facts, repeated opportunities were given, the explanation that the books had been destroyed was rejected on adequate reasons, and the refusal of renewal of registration was treated as justified. en-us Mon, 15 Jun 1970 00:00:00 +0530 Thu, 26 Mar 2009 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7951 Where an assessee failed to comply with statutory notices and did not produce the required books, section 23(4) permitted a best judgment assessment and, in a firm's case, refusal or cancellation of registration. The power was not automatic merely because the assessment was made under that provision; the Income-tax Officer had to act on relevant materials and exercise discretion on judicial standards. On the stated facts, repeated opportunities were given, the explanation that the books had been destroyed was rejected on adequate reasons, and the refusal of renewal of registration was treated as justified. Case-Laws Income Tax Mon, 15 Jun 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7951