HP HC Quashes Unreasoned Orders passed by Ignoring Submissions

Nitin Life Sciences Limited Vs PCIT & another (Himachal Pradesh High Court) In the case of Nitin Life Sciences Limited vs. Principal Commissioner of Income Tax (PCIT) & Another, the Himachal Pradesh High Court addressed the issue of an unreasoned order and notice of reassessment issued by the tax authorities. The petitioner, Nitin Life Sciences Limited, challenged the order dated April 13, 2023, and the accompanying notice which concluded that an amount of ₹2,73,28,43,663 had escaped assessment for the Assessment Year 2019-2020. The notice required the petitioner to undergo assessmen...