Best judgment assessment
Best judgment assessment.
144. If any person—
(a)fails to make the return required by any notice given under sub-section (2) of section 139 and has not made a return or a revised return under sub-section (4) or sub-section (5) of that section ; or
(b)fails to comply with all the terms of a notice issued †[under sub-section (1) of section 142], or
(c) having made a return, fails to comply with all the terms of a notice issued under sub section (2) of section 143, the Income-tax Officer, after taking into account all relevant material which the Income-tax Officer has gathered, shall make the assessment of the total income or loss to the best of his judgment and determine the sum payable by the assessee or refundable to the assessee on the basis of such assessment.
† In cl. (b) of sec. 144, certain words are proposed to be inserted after the words in square brackets by the Taxation Laws (Amendment) Bill, 1973, as reported by the Select Committee. For text see cl. 44 of the Bill.
* New secs. 144A and 144B are proposed to be inserted by the Taxation Laws (Amendment) Bill 1973, as reported by the Select Committee For text see cl. 45 of the Bill.
[As amended by the Finance Act, 1975 and by the Finance Act, 1974]