Congress Receives ₹1700 Crore Income Tax Notice: Penalty and Interest Included
Income Tax Department Sends Congress a Notice of ₹1700 Crore
According to ANI, sources have revealed that the Income Tax Department has sent a new demand notice of ₹1700 crore to Congress, covering penalties and interest, for the assessment years from 2017-18 to 2020-21.
Just a day ago, on March 28, the Delhi High Court dismissed the petition filed by Congress challenging the tax assessment notice.
This isn’t the first time Congress has faced scrutiny over tax assessments, as similar proceedings took place for the assessment years from 2014-15 to 2016-17, which were also dismissed by the court.
The Delhi High Court stated that there were numerous irregularities in the accounts.
Congress had filed a petition challenging the initiation of income tax reassessment proceedings for four years (2017-18, 2018-19, 2019-20, and 2020-21). Justices Yashwant Varma and Purushendra Kaurav, the bench of the Delhi High Court, dismissed the petition on March 28, stating that there were many irregular transactions in Congress’ accounts. Income tax authorities had issued notices for reassessment of taxes, leading to the initiation of proceedings.
On March 25, the court dismissed three petitions filed by Congress, stating that the time for completing the assessment by Congress was about to expire shortly and the appeal in the court against the last order of proceedings was opted for.
On March 8, the Income Tax Appellate Tribunal (ITAT) had decided to uphold the order. The tribunal had rejected Congress’s refusal to put a stay on the demand notice issued for recovery of dues exceeding Rs. 100 crore for the fiscal year 2018-19.
