https://www.taxtmi.com/caselaws?id=21145 Best judgment assessment of agricultural income is permissible where no accounts are maintained, but it must rest on disclosed, relevant material and a rational basis for the yield or income fixed. Here, the inspection report and other supporting material were not properly discussed, tested against comparable cases, or explained in the assessment orders, so the assessment could not be treated as fair or rational on the record. The Tribunal, as final fact-finding authority, was required to give a reasoned order showing the evidence considered and the basis of its conclusion. Its cryptic common order was therefore set aside and the matter remitted for fresh consideration. en-us Wed, 13 Jan 1993 00:00:00 +0530 Fri, 20 Nov 2009 13:21:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21145 Best judgment assessment of agricultural income is permissible where no accounts are maintained, but it must rest on disclosed, relevant material and a rational basis for the yield or income fixed. Here, the inspection report and other supporting material were not properly discussed, tested against comparable cases, or explained in the assessment orders, so the assessment could not be treated as fair or rational on the record. The Tribunal, as final fact-finding authority, was required to give a reasoned order showing the evidence considered and the basis of its conclusion. Its cryptic common order was therefore set aside and the matter remitted for fresh consideration. Case-Laws Income Tax Wed, 13 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21145