Insufficient response time for SCN: HC remits case back to PCIT for reconsideration

Ultra Drugs Private Limited Vs PCIT (Himachal Pradesh High Court) Introduction: In a significant ruling, the Himachal Pradesh High Court addressed the issue of undue haste in the assessment proceedings under the Income Tax Act, 1961. The court set aside an order passed under Section 143(3) of the Act, highlighting the inadequate time provided to the petitioner, Ultra Drugs Private Limited, to respond to a show-cause notice. The court remitted the matter back to the Principal Commissioner of Income Tax (PCIT) for reconsideration, ensuring that procedural fairness is upheld in tax assessments. B...