https://www.taxtmi.com/caselaws?id=798108 Faceless-assessment requirements under sections 144B and 144C do not invalidate an assessment made by the jurisdictional Assessing Officer where the faceless procedure does not apply and statutory assessment notices were issued. Best-judgment assessment and rejection of books under sections 144 and 145(3) require established material irregularities or substantial accounting discrepancies. In share-trading businesses, broker-ledger entries, contract notes and adjustments of sale proceeds against purchases may explain absent bank entries. Gross-profit estimates must address relevant material, identify accounting defects and rest on a rational, methodical basis suited to the business; unsupported profit rates cannot sustain an addition. en-us Mon, 31 Aug 2026 00:00:00 +0530 Wed, 02 Sep 2026 08:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798108 Faceless-assessment requirements under sections 144B and 144C do not invalidate an assessment made by the jurisdictional Assessing Officer where the faceless procedure does not apply and statutory assessment notices were issued. Best-judgment assessment and rejection of books under sections 144 and 145(3) require established material irregularities or substantial accounting discrepancies. In share-trading businesses, broker-ledger entries, contract notes and adjustments of sale proceeds against purchases may explain absent bank entries. Gross-profit estimates must address relevant material, identify accounting defects and rest on a rational, methodical basis suited to the business; unsupported profit rates cannot sustain an addition. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798108