Only 6 days provided to Address Bank Credits Variation: Madras HC directs Reconsideration of Income Tax

The Madras High Court has directed the reconsideration of an income tax assessment order after the assessee was given only six days to address variations in bank credits. The court found that the limited time provided to the assessee was insufficient to prepare an adequate response, thus compromising the fairness of the assessment process. The High Court emphasized the need for reasonable timeframes in tax proceedings to ensure that taxpayers can fully exercise their rights to contest assessments. This decision highlights the importance of due process in tax administration and reinforces the judiciary's role in ensuring that taxpayers are treated fairly by tax authorities.