1979 (12) TMI 10

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....2, passed by the Additional Commissioner of Income-tax, Rajasthan, Jaipur, camp Udaipur, in respect of all the four assessment, years. It appears that the ITO, A-Ward, Udaipur, who is the assessing authority served notice on the assessee, in the first instance, under s. 139(2) of the I.T. Act, 1961 (hereinafter to be referred to as " the Act "), but the assessee did not comply with the notice. Thereafter notice was issued under s. 142(1) of the Act calling upon the assessee to produce the books of account maintained by it. Thereupon the authorised representative of the assessee put in appearance on behalf of the assessee before the taxing authority and prayed for an adjournment. Adjournment was allowed but again there was default in appeara....

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....know that the assessee had suffered, losses in business." In the conclusion, the Additional Commissioner held that the earlier assessments were sufficient basis for making the best judgment assessment in the present case. Learned counsel for the petitioner has urged that the assessee had suffered losses during the relevant years and, therefore, they should not have been assessed on an income of Rs. 19,600 for each year. It is submitted that the estimate of income made by the ITO is not fair and honest. It may be pointed out that right from the assessment year 1954-55, down to the assessment year 1,964-65, the assessee had been assessed under s. 23(3) of the 1922 Act and s. 144 of the Act. It is further clear from the grounds of rev....