https://www.taxtmi.com/caselaws?id=23701 A reassessment under section 148 was issued to an HUF after no reply or explanation was filed. The challenge to the Tribunal's endorsement of the ex parte best judgment assessment failed because no material was produced to support the claim that the investment came from loans. The Tribunal was entitled to rely on the probabilities of the case and the absence of contrary evidence, and its finding was not shown to be perverse or based on no evidence. No interference was called for. en-us Mon, 13 Nov 1989 00:00:00 +0530 Wed, 23 Dec 2009 15:45:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23701 A reassessment under section 148 was issued to an HUF after no reply or explanation was filed. The challenge to the Tribunal's endorsement of the ex parte best judgment assessment failed because no material was produced to support the claim that the investment came from loans. The Tribunal was entitled to rely on the probabilities of the case and the absence of contrary evidence, and its finding was not shown to be perverse or based on no evidence. No interference was called for. Case-Laws Income Tax Mon, 13 Nov 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23701