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Income Tax department issues Rs 1,700 crore notice to Congress: Sources

Written by  Annesha Barua -- March 29th 2024 12:49 PM
Income Tax department issues Rs 1,700 crore notice to Congress: Sources

Income Tax department issues Rs 1,700 crore notice to Congress: Sources

PTC News Desk: The Income Tax Department has reportedly issued a fresh notice amounting to Rs 1,700 crore to the Congress party, following the dismissal of the party's petition by the Delhi High Court challenging previous tax notices. According to sources, this latest notice pertains to the assessment years spanning from 2017-18 to 2020-21 and encompasses penalties and accrued interest.

This development comes as a blow to the Congress, which is already grappling with financial constraints after facing a penalty of Rs 200 crore and the freezing of its funds by the Income Tax authorities. With no respite from the High Court, the party is now contemplating approaching the Supreme Court to seek relief.

The Congress has vocally accused the BJP of employing financial pressure tactics and leveraging tax authorities against them, especially in the lead-up to the Lok Sabha elections scheduled to commence on April 19.

Earlier in February, the Income Tax department had flagged discrepancies in the party's tax filings, leading to the demand for Rs 200 crore. Subsequently, the Income Tax Appellate Tribunal (ITAT) instructed the party to settle the dues and froze its accounts.

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The Congress has vehemently condemned the IT tribunal's decision to freeze its funds, labeling it as an "assault on democracy," particularly since it coincided with the impending Lok Sabha polls. Recently, the Delhi High Court dismissed Congress's petitions challenging the initiation of tax reassessment proceedings against them for a four-year period.

The issue of funding for political parties has taken center stage in the current election cycle, particularly following the Supreme Court's ruling to invalidate electoral bonds. These bonds, which allowed for anonymous donations to political parties from individuals and businesses, were scrapped on the grounds of violating citizens' right to information. The Congress and other opposition parties hailed the verdict, emphasizing that the scheme had disproportionately benefited the BJP.

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(Inputs from agencies)



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