Where non-submission of documents led to Best Judgment Assessment, HC set aside order subject to 15% deposit

S. S. Traders Vs CIT (Madras High Court) Conclusion: Since assessee had an alternative remedy under Section 246A  along with an application for condoning the delay under Section 249(3), if assessee was willing to file the required documents, the Court was inclined to come to the rescue of assessee by quashing the best judgment assessment order which was passed due to statutory limitation deadlines and remitting the case back to the fourth respondent. Held: Assessee had challenged the assessment order issued pursuant to a notice under Section 142. The order was passed by the fourth respondent ...