TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Best Judgment Assessments Must Be Fair and Honest, Not Based on Arbitrary Guesswork, as per Judicial Precedents.</h1> The assessing authority cannot make a best judgment assessment entirely based on arbitrary guesswork. Judicial precedents, such as the cases of Kachwala Gems and Dhakeswari Cotton Mills, establish that while some degree of estimation is inherent in best judgment assessments, authorities must strive for honest and fair estimates of income. These assessments should not be purely speculative and must be supported by more than mere suspicion. The responsibility partly lies with the assessee for failing to provide proper accounts, which necessitates the use of best judgment by authorities.
TaxTMI 
TaxTMI 