https://www.taxtmi.com/caselaws?id=468833 Best judgment assessment must rest on relevant material and cannot be sustained on assumption, suspicion, or an unsupported premise. In relation to assessment years 1975-76 and 1976-77, the record disclosed no material supporting the income determined by the assessing officer, so the assessments were unsustainable. The revisional authority, acting under section 264, should have noticed that defect and granted relief by setting aside the assessments and remitting the matter for fresh disposal in accordance with law. The revisional order was therefore set aside to that extent, with a direction for fresh consideration. en-us Mon, 15 Jun 1981 00:00:00 +0530 Fri, 22 May 2026 16:23:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468833 Best judgment assessment must rest on relevant material and cannot be sustained on assumption, suspicion, or an unsupported premise. In relation to assessment years 1975-76 and 1976-77, the record disclosed no material supporting the income determined by the assessing officer, so the assessments were unsustainable. The revisional authority, acting under section 264, should have noticed that defect and granted relief by setting aside the assessments and remitting the matter for fresh disposal in accordance with law. The revisional order was therefore set aside to that extent, with a direction for fresh consideration. Case-Laws Income Tax Mon, 15 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468833