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Fresh Rs 1,700 Crore IT Notice To Congress

Fresh Rs 1,700 Crore IT Notice To Congress

The Income Tax Department has issued a fresh ?1,700 crore notice to the Congress party following the Delhi High Court's dismissal of the party's petition contesting previous tax notices. The new notice covers assessment years from 2017-18 to 2020-21, including penalties and interest charges.

Earlier, in February, the Income Tax department had flagged discrepancies in the party's tax filings, demanding ?200 crore. Subsequently, the Income Tax Appellate Tribunal (ITAT) directed the Congress to settle the dues and froze their accounts.

The Congress criticized the tax tribunal's decision to freeze its funds, labeling it as an "attack on democracy," especially given its timing just before the Lok Sabha elections.

Recently, the Delhi High Court upheld the initiation of tax reassessment proceedings against the Congress for four years, denying the party's petitions challenging the action. 

Fresh Rs 1,700 Crore IT Notice To Congress

Fresh Rs 1,700 Crore IT Notice To Congress

The Income Tax Department has issued a fresh ?1,700 crore notice to the Congress party following the Delhi High Court's dismissal of the party's petition contesting previous tax notices. The new notice covers assessment years from 2017-18 to 2020-21, including penalties and interest charges.

Earlier, in February, the Income Tax department had flagged discrepancies in the party's tax filings, demanding ?200 crore. Subsequently, the Income Tax Appellate Tribunal (ITAT) directed the Congress to settle the dues and froze their accounts.

The Congress criticized the tax tribunal's decision to freeze its funds, labeling it as an "attack on democracy," especially given its timing just before the Lok Sabha elections.

Recently, the Delhi High Court upheld the initiation of tax reassessment proceedings against the Congress for four years, denying the party's petitions challenging the action. 

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