look news india
New Delhi: Congress has suffered another major setback before the Lok Sabha elections. The High Court has rejected Congress's petition against the action of the Income Tax Department. Congress had filed petitions against the tax reassessment proceedings of the Income Tax Department for three consecutive years. Earlier, the High Court had reserved the decision after the completion of the hearing on March 20.
The High Court said that the Income Tax Department has collected strong evidence against the Congress Party, due to which it has become necessary to investigate the income of the party. Justice Yashwant Verma and Justice Purushendra Kumar Kaurav said that the Congress party has challenged the evaluation proceedings till late night of March 31. This process should be completed by 2024. The party had filed the petition on March 19.
Earlier, Congress had opposed the revaluation process.
Congress lawyer Abhishek Singhvi said the time limit applies to tax reassessment proceedings.
The Income Tax Department can go up to a maximum of six assessment years. He further said that the revaluation process is being carried out contrary to the provisions of Income Tax.