Gujarat HC Quashed Income Tax Assessment Order for Ignoring Reply to SCN

Sharanam Square LLP Vs Assessment Unit (Gujarat High Court) The writ petition before the Gujarat High Court challenged an assessment order dated 26 March 2024 passed under Section 143(3) read with Section 144B of the Income Tax Act, 1961 for Assessment Year 2022–23. The petitioner contended that the assessment order, which resulted in a tax demand of ₹38,13,93,748, was passed in gross violation of the principles of natural justice as the detailed reply dated 25 March 2024 to the show cause notice had not been considered at all. The petitioner, engaged in the business of construction and in...