Section 121 of Income Tax Ordinance  ( ITO ) Best Judgement Assessment

ITO provide power to make best judgement based on availabe information or material to estimate taxable income and value of tax thereon in the following situation

01.IF a person fails to file return U/S 114 of ITO 2001,
02.Fails to furnish return required U/S  143 and 144 ( Non resident Ship owner or charterer and Non resident aircraft owner or charterer respectively)
03. and furnish a statement required U/S 116 (Wealth Statemen)

After making assessment Commissioner shall issue assessment order stating

Taxable Income of the person,
Amount of tax due
Tax already paid , if any and
time, place and manner of making appeal against assessment

   An assessment order under this section shall only be issued within five years after the end of the tax year or the income year to which it relates.