Assessee Bears Burden to Disprove Best Judgment Assessment

Rai Wines Ras Bahar Colony Vs CIT (Allahabad High Court) The Allahabad High Court has addressed the burden of proof in cases involving a “best judgment assessment” by income tax authorities. In the case of Rai Wines Ras Bahar Colony Vs CIT, the appellant challenged a substantial enhancement of their income by the Commissioner of Income Tax (Appeals), which was subsequently upheld by the Income Tax Appellate Tribunal. The central issue was whether the Tribunal was legally correct in sustaining the enhancement of the appellant’s income. The appellant’s counsel argued that the...