Assessing Authorities Fail in Proper Income Estimation u/s 263; Best Judgment Assessment Misapplied.

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....Revision u/s 263 - estimation of income - Entire exercise of the fact finding in the form of estimation of income under the powers conferred upon the Assessing Authorities to make best judgment assessments, where the books of accounts are validly rejected, does not seem to have been adopted by the authorities below.....