Monday, June 17, 2024
154,225FansLike
654,155FollowersFollow
0SubscribersSubscribe

Delhi High Court rejects Congress plea challenging tax reassessment proceedings

The Delhi High Court today rejected three petitions filed by the Indian National Congress (INC) challenging the reassessment proceedings initiated against it by the Income Tax (IT) Department.

A Division Bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav had reserved the verdict on March 20. During the hearing today, the High Court said that it had dealt with all the contentions of Congress, except the one regarding the delay in initiation of the reassessment proceedings.

Justice Varma told Congress’s counsel that they have chosen not to answer regarding the delay in initiation of the reassessment proceedings because the party arrived before the court only on 20th March. He added that the assessment is to be completed by 31st and that is something they have left open for the party to urge.

The Congress’s plea challenged the IT Department’s reassessment proceedings initiated against it for the years 2014-15, 2015-16 and 2016-17. Appearing for Congress, Senior Advocate Abhishek Manu Singhvi said that the reassessment proceedings are barred by limitation and are being done in violation of the provisions of the Income Tax Act.

Advocate Zoheb Hossain, who appeared for the IT department, stated that there had been no violation of the statutory provisions and that the escaped income by the Congress was more than Rs 520 crore.

The Delhi High Court on March 13 rejected a plea filed by the Congress against an order of the Income Tax Appellate Tribunal (ITAT) dismissing its plea for stay on the demand notice issued by IT department for recovery of nearly Rs 105 crore in outstanding taxes.

The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav had said there was no reason to interfere with the ITAT order. Nonetheless, the High Court had allowed Congress to lodge a fresh application for a stay before the ITAT, keeping in mind the developments that have occurred in the meanwhile including the recovery of an amount of Rs 65.94 crore from the party.

spot_img

News Update