Key Points
In a major reprieve for the Congress facing financial woes ahead of the Lok Sabha elections, the Income Tax department told the Supreme Court on Monday that it will not take coercive steps to recover a demand of 3,500 crore, including the levy of notices worth about 1,700 crore that were issued last week.O)..
In light of the April-June general elections, the department, represented by Solicitor General Tushar Mehta, submitted before the court that it will not be resorting to any urgent action to retrieve the money from the party..
The issues which arise in these appeals are yet to be adjudicated upon but having regard to the situation now, the department does not wish to precipitate the matter and says that no coercive steps will be taken with regard to recovery of 3500 crores, the bench recorded in its order..
The bench also recorded the Mehtas submissions that the demand of 3500 crore may not be strictly relatable to the controversy in the appeals pending before the top court and that they may touch upon other demands raised by the department in separate proceedings..
The Congress on March 29 announced a nationwide protest over the next two days at the partys state and district headquarters against the income-tax notices, the latest being of around 1,700 crore, which was sent hours after the Delhi high court dismissed the partys petition challenging the reassessment proceedings for four years..
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