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​What is assessment under section 144?​​

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 aliya bhat asked almost 3 years ago

Hi I am Adhya. I am preparing for CA exam. I want to know, ​What is assessment under section 144?​​ ​

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

Further ​​As per section 153, assessment under section 144 shall be made within a period of two years from the end of the relevant assessment year. E.g. Assessment under section 144​ for the financial year 2013-14 i.e. assessment year 2014-15 shall be completed till 31-3-2017.​

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Picsjoin 2017224123730582 Archana answered almost 3 years ago

Hie Adhya, - Assessment under section 144 (called best judgment assessment) is an assessment carried out as per the best judgment of the Assessing Officer. Best judgment assessment is resorted due to ​certain failures (specified under ​ section 144​) on the part of the taxpayer

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Mukesh answered almost 3 years ago

An analysis of The Procedure of Best Judgment Assessment The expression of assessment has a wide scope within the purposes of the Act whether the said assessment made are correct or not. Therefore any assessment made would not essentially mean an assessment correctly or properly but would signify all assessment made or purported to have been made under the said act. Basically assessment is estimation for an amount assessed while paying Income Tax. It is a compulsory contribution that is required for the support of a government. In a best judgment assessment the assessing officer should really base the assessment on his best judgement i.e. he must not act dishonestly or vindictively or capriciously. There are two types of judgement assessment: 1.Compulsory best judgement assessment made by the assessing officer in cases of non-co-operation on the part of the assessee or when the assessee is in default as regards supplying informations. Discretionary best judgement assessment is done even in cases where the assessing officer is not satisfied about the correctness or the completeness of the accounts of the assessee or where no method of accounting has been regularly and consistently employed by the assessee. The Best Judgment Assessment is a procedure under the IT Act to comply with the principles of natural justice. Vide Section 144 of the Income Tax Act, 1961 the Assessing Officer is under an obligation to make an assessment of the total income or less to the best of his judgment in the following cases. 1.If the person fails to make a return or required under s. 139(1) and he has not made a return or a revised return under ss. (4) or (5) of that section. If any person fails to comply with all the terms and conditions stipulated under a notice u/ss. 142 or fails to comply with the directions requiring him to get his accounts audited in terms of section 142(2A). 2.If any person, after having filed a return fails to comply with the with all the terms of a notice under section 143(2) requiring his presence or production of evidence and documents; or If the Assessing officer is not satisfied about the correctness and the completion of the accounts of the assessee if no method of accounting has been regularly employed by the assessee. In case of best judgment assessment an assessee has a right to file an appeal under S. 246A or to make an application for revision under S.246 to the Income Tax Commissioner. The best judgment assessment can only be made after giving the assessee an opportunity of being heard. Such opportunities shall be given by issuance of notice by way of a show cause as to why the assessment should not be completed to the best of the judgment and that opportunity for hearing will not be necessary where notice u/s 142(1) has been issued. Under this provision where the assessee fails to file a return or submit the documents or fails to comply with any of the above-mentioned conditions the assessing officer is empowered u/s 144 to assess the total income according to the best of his judgment with a reasonable opportunity provided to the tax payer of being heard. This is however to the exclusion of the provision as provided U/s 142(1) of the IT Act where the assessee has been given prior notice to the assessment. The assessing officer u/s 144 is under a duty to make assessment of the total income or the loss to the best of his judgment and the tax payable after taking all externalities and conditions into account.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Marie answered almost 3 years ago

​Assessment under section 144 (called best judgment assessment) is an assessment carried out as per the best judgment of the Assessing Officer. Best judgment assessment is resorted due to certain failures (specified under section 144​) on the part of the taxpayer

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Open uri20170510 32134 s5bvk0?1494421637 ARJUN PRATAP SINGH answered almost 3 years ago

Dear Friend, as far as your query is concerned that ​What is assessment under section 144?​​ Let me informed that ​Assessment under section 144 (called best judgment assessment) is an assessment carried out as per the best judgment of the Assessing Officer. Best judgment assessment is resorted due to ​certain failures (specified under ​ section 144​) on the part of the taxpayer Further ​​As per section 153, assessment under section 144 shall be made within a period of two years from the end of the relevant assessment year. E.g. Assessment under section 144​ for the financial year 2013-14 i.e. assessment year 2014-15 shall be completed till 31-3-2017.​ Hope answer was helpful to you Regards, Arjun Pratap Singh

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