Big blow to Congress from Delhi High Court, petition in Income Tax assessment case rejected
The petition was filed in the court on behalf of the Congress regarding the tax re-assessment proceedings. The hidden income of the Congress Party is more than Rs 520 crore.
Congress has received a big blow from Delhi High Court. The Delhi High Court on Thursday rejected a petition by the Indian National Congress Party. In this petition, an order of the Income Tax Department regarding four-year revaluation proceedings was challenged. The petition was filed in the court on behalf of the Congress regarding the tax re-assessment proceedings for the years 2014 to 2017.
Congress party opposed the action
Earlier on March 22, a bench of Justices Yashwant Verma and Purushindra Kumar Kaurav had rejected the petition filed by the Congress against the tax reassessment proceedings initiated by the authorities for three consecutive years i.e. 2014, 2015 and 2016. The party had objected to the revaluation proceedings. Senior advocate Abhishek Singhvi, appearing for the Congress party, had argued that there is a time limit in the tax reassessment proceedings. The Income Tax Department is limited to reviewing assessments for a maximum of six years.
Rs 520 crore hidden by Congress Party
The Income Tax Department opposed this and said that no legal provision has been violated on their part. Also said that based on the evidence collected, the hidden income of the party is more than Rs 520 crore. The High Court had refused to stay the action of the Income Tax Department to recover outstanding tax of more than Rs 100 crore. The assessing officer had estimated the income of Congress for the year 2018-19 at more than Rs 199 crore. At the same time, outstanding tax of more than Rs 100 crore was demanded from the party.