Best judgment assessment

Tax2005147 sections

Statutory text

(5) If a registered dealer referred to in clause (a) of sub-section (4) has not furnished returns and statement in respect of any period by the prescribed date: or has knowingly furnished incomplete or incorrect returns or statement for any period; or having furnished such returns has failed to comply with any of the terms of a notice issued under clause (a) of sub-section (4); or (i) has not maintained any accounts, or (ii) the accounts maintained by him are not in accordance with the provisions of sub-section (1) of section 41; or (iii) has not regularly employed any method of accounting, or (iv) the method employed is such that in the opinion of the commissioner assessment cannot properly be made on the basis thereof, the commissioner, shall after issue of a notice in the prescribed form and in the prescribed manner, assess the dealer to the best of his judgment.

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