Best Judgement Assessment

Tax Glossary Definition

Best Judgement Assessment

Best Judgement Assessment – An income determination made by tax authorities using their reasonable judgment and available evidence when a taxpayer fails to furnish adequate records or cooperate during the assessment process. The estimation is based on past performance, comparable data, or other reliable information.

Example: When a taxpayer does not maintain proper books of account, the Assessing Officer may compute taxable income using prior years’ results and prevailing industry standards.

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