Section 144 of ITA, 1961 : Section 144: Best Judgment Assessment

Explanation using Example

Imagine a scenario where Mr. Sharma, a business owner, has failed to file his income tax return for the financial year by the due date as per sub-section (1) of section 139 of the Income-tax Act, 1961. Despite receiving a notice from the Income Tax Department under section 142(1) asking him to submit specific documents and information for the assessment, Mr. Sharma does not comply with the terms of the notice.

In this case, the Assessing Officer (AO) can invoke Section 144 of the Income-tax Act. The AO w...

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