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S.S. Jain Subodh Law College
“”
Project Submission as the Partial Fulfillment of Periodic Evaluation of a! Law
Submission Submissi on To: To:
Submitted Submitte d By:
MR. DHARMENDRA SINGH BHATI
NAME OF STUDENT
FACUT! OF TA" A#
Ro$$ no:% III Semeste& S.S. '(in Subod) (* Co$$e+e
TABE OF CONTENTS 1
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". %. ). *. +. -.
#c$nowledgment........................................................................................... iii &esearch 'ethodolog(.......................................................................... iv Case list........................................................................................................ v #bstract................................................................................................. vii ,ntroduction................................................................................................... " he Concet of /est Judgement
#ssessment.......................................... ................................................ 0. he /asis for /est Judgement assessment..............................................1
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22222222..............) 3. 4e( #sects of /est Judgement #ssessment.......................................... ............................................... + Conditions recedent are alternative and not cumulative............................... Oortunit( must be given to the assessee..................................................... #ssessment on rejection of account....................................... ........................ &easonable ne!us........................................................................................... Sum a(able as ta! must be determined........................................................ Considerations in ma$ing /est Judgement assessment................................. #ssessment can be made even where return is incomlete1 unsigned1 or unverified • • • • • • •
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return............................................................................................................. /est Judgement assessment can be made for non5comliance of notice under
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section "*%6"78section "*)6%7.......................................................................... &efusal of Chartered #ccountant to underta$e audit under section "*%6%#7 cannot
lead to best Judgement assessment................................................................ Power is not arbitrar(............................................................................... &emedies available assesee ...................................................................... 9. Object of /est Judgement #ssessment................................................................. ":.Conclusion ; Suggestions................................................................................. "". /ibliograh(.......................................... ............................................................. • •
AC,NO#EDGEMENT
, ta$e this oortunit( to e!ress our humble gratitude and ersonal regards to M&. D)(&mend&( Sin+) B)(ti for insiring me and guiding me during the course of this roject wor$ and also for his cooeration and guidance from time to time during the course of this roject wor$ on the toic.
Jaiur
6Student sign7 2
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"+ #ugust %:"*
Student
RESEARCH METHODOOG! Aims (nd Ob-eti/es: he aim of the roject is to resent a detailed stud( of the toic “B EST J UDGEMENT ASSE SSMEN T 0
forming a concrete informative casule of the same with an insight into its
relevance in the ,ndian mar$et.
Rese(&) 1$(n he researchers have followed =octrinal method.
So2e (nd imit(tions: 3
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,n this roject the researcher has tried to include different asects ertaining to the concet of /est Judgement #ssessment1 t(es of assessments1 secial attention is also rovided on section "** of ,ncome a! #ct1 "9-"1 basis of /est Judgement #ssessment1 object of /est Judgement #ssessment1 imact of judicial ronouncements on /est Judgement #ssessment and lastl( conclusion. . Sou&es o3 D(t(: he following secondar( sources of data have been used in the roject5 •
Case Stud(
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>ebsites
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Case Laws
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/oo$s
Met)od o3 #&itin+ (nd Mode o3 Cit(tion: he method of writing followed in the course of this research roject is rimaril( anal(tical. he researcher has followed ?niform method of citation throughout the course of this research roject.
CASE IST
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#ddl. ,O v Pon$unnam raders 6"90-7 ":% ,& )-- 64er7.
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#sst CO v. =elight Steel Furniture1 6"9307 -+ SC )%9 6&aj7.
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/abulal #garwal v. CS1 6"9307 -- SC "-* 6'P7.
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/ata Shoe Co. Pvt Ltd v. Joint CO1 6"9-37 %" SC ")+ 6'ad7.
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/ehari Lal Chatterji v C, 6"9)*7 % ,& )00 6#ll7.
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/harat >ood Products Co v. CS1 6"9307 -* SC ":0 6=el7.
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/has$ar &ao v. State of #P1 6"93-7 -) SC %90 6#P7. 4
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C, v La!minarain /adridas 6"9)07 + ,& "0: 6PC7 C, @ Segu Segu /uchiah Sett( 6"90:7 6"90:7 00 ,& +)9 6SC7
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CS v. H' Eusfali1 6"9307 -* SC ":0 6=el7
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CS v. Sh(am @astra /handar1 6"9907 ":- SC )%- 6'P7.
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=wijendra 4umar /hattacharjee v Suerintendent of a!es 6"99:7 03 SC )9) 6Aau7.
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E!cise ; a!ation Officer v. @isheswar
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Harmu$hari =ulichand v C, 6"9%37 ) ,C "93 6Cal7.
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,lluri Subba(a Chett( v. State of #P1 6"9-)7 "* SC 6SC7.
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4achwala Aems v. JC, 6%::-7 "+3 a!man 0" 6SC7B 6%::07 %33 ,& ": 6SC7.
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4ailash Oil 'ills v. a! Comm.1 6"93%7 +: SC "+0 6P;H7.
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4alavati =evi Harlal$a v. C,1 6"9-07) SC& 3)).
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4amala 'ills Ltd. @. /omba( State1 6"9-+7 "- SC -") 6SC7. 4hemchand &amdas v C,6"9)*7 % ,& ""-
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'a$hali >ine Store v CS 6"9307 -0 SC *"- 6#ll7.
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'ohanlal Hardeodas 6Firm of7 v C, 6"9):7 * ,C 9: 6Pat7.
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'ohini=ebi 'alani v ,O 6"90:7 00,& -0* 6Cal7.
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'otor House v. State of Orissa1 6"99:7 09 SC )3+ 6Ori 7.
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Padam Chand v CS 6"93-7 -% SC "9+ 6#ll7
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&avi v. State of <1 6"93"7 *3 SC %0* 6'ad7.
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San$aralinga
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Shreeram =urgarasad ; Fathechand
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6"9337 "0: ,& %) 6/om7. •
Sreenivasaa v. State of 'adras1 6"9-*7 "+ SC 03* 6'ad7.
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Swadeshi Pol(te! Ltd v ,O 6"93)7 "** ,& "0" 6SC7.
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ABSTRACT This project aims at introducing the concept of best judgment assessment and critically analyzing it. It deals with the application of this assessment in the present times and the recent developments by the Indian judiciary with respect to this concept. Based on the hypothesis that the judicial pronouncements can significantly improve the practice of best judgment assessment by the taxing authorities, I will try to explore its potential in the settlement of tax disputes. It will take a look on various externalities such as volume of business, conduct of the dealer, past records and similar facts are conditions which are the basis for a best judgment assessment in relation to the growing need for effective tax management in ! st century. It also
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demonstrates that where, how and what kind of mistakes have been done by the assessing officer while applying section !"" of IT act.
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