https://www.taxtmi.com/caselaws?id=800742 Assessments under the combined scope of Sections 143 and 147 need not follow the best-judgment procedure merely because books of account are unavailable. Where the taxpayer fails to produce books and supporting records despite opportunity, and reported expenditure changes are grossly disproportionate to turnover growth, taxable income may be determined using industry-standard income and profit parameters. Non-rejection of returns or profit-and-loss accounts does not, by itself, invalidate that assessment approach. en-us Thu, 01 Oct 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800742 Assessments under the combined scope of Sections 143 and 147 need not follow the best-judgment procedure merely because books of account are unavailable. Where the taxpayer fails to produce books and supporting records despite opportunity, and reported expenditure changes are grossly disproportionate to turnover growth, taxable income may be determined using industry-standard income and profit parameters. Non-rejection of returns or profit-and-loss accounts does not, by itself, invalidate that assessment approach. Case-Laws Income Tax Thu, 01 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800742