Best judgment assessment- Salary & interest to partners can be disallowed

Advertisement Eastern Engineering Venture Vs ITO (ITAT Cuttack) There is no dispute that the assessment was done under section 144 as the assessee had not complied to the hearing notices served upon the assessee. Later on the Assessing Officer had reason to believe that income had escaped assessment. Therefore, he issued notice u/s.148 of the Act and also issued notices u/s.142(1). There were some partial compliances and in some cases, no compliance was made. Hence, he framed assessment u/s.147/144 of the Act. CIT(A) was of the view that u/s.184(5) of the Act, the assessee is not entitled f...