https://www.taxtmi.com/caselaws?id=292986 A best judgment assessment under the Indian Income-tax Act, 1922 remains valid where the assessee fails to comply with a statutory notice and does not establish sufficient cause for non-compliance under the cancellation provision. The officer need not first conduct a local inquiry or record a detailed note of its results; the statute requires an honest exercise of judgment on available material, including local knowledge, past returns, assessments, and other relevant information. An assessment is vulnerable only if it is dishonest, capricious, vindictive, or otherwise not made in honest judgment. en-us Fri, 19 Feb 1937 00:00:00 +0530 Mon, 18 Jan 2021 11:07:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292986 A best judgment assessment under the Indian Income-tax Act, 1922 remains valid where the assessee fails to comply with a statutory notice and does not establish sufficient cause for non-compliance under the cancellation provision. The officer need not first conduct a local inquiry or record a detailed note of its results; the statute requires an honest exercise of judgment on available material, including local knowledge, past returns, assessments, and other relevant information. An assessment is vulnerable only if it is dishonest, capricious, vindictive, or otherwise not made in honest judgment. Case-Laws Income Tax Fri, 19 Feb 1937 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292986