look news india
before the Lok Sabha elections Income Tax Department congress party A demand notice of Rs 1700 crore has been issued. According to sources, the fresh notice issued to the party is for assessment years 2017-18 to 2020-21 and includes penalty and interest.
This comes a day after the Delhi High Court dismissed the party's plea challenging the tax notice, sources said.
The Grand Old Party has alleged that the Center wants to freeze bank accounts.
On March 28, the Delhi High Court dismissed Congress' pleas challenging the initiation of tax reassessment proceedings against it by tax authorities for four years. A bench of Justices Yashwant Verma and Purushindra Kumar Kaurava said the petitions were dismissed in terms of its earlier judgment which had refused to interfere in initiating the revaluation for another period.
In the petition rejected last week, the Congress party had challenged the initiation of reassessment proceedings related to assessment years 2014-15 to 2016-17.
Last Friday, the Delhi High Court had said that it appears that the Income Tax Department has found “sufficient and solid evidence” regarding unaccounted transactions of Rs 520 crore linked to the Congress party in connection with the Lok Sabha elections 2019 and Madhya Pradesh Assembly elections 2018. Have collected. 2013.
The court also rejected Congress' plea that the IT department should not reopen the assessments for the years 2014-15, 2015-16 and 2016-17 filed by the party. The HC has said that Congress chose to approach it a few days before the end of the time for completion of assessment (March 31) and at the final stage of the proceedings.
The I-T department wanted to reopen Congress' assessments from 2014 to 2021 as it had found “incriminating evidence” in the searches showing unaccounted transactions of the party.
