Key Points
The Income Tax department has issued a notice of approximately Rs 1,700 crore to the Congress party, exacerbating its financial concerns ahead of the crucial 2024 Lok Sabha elections, reported TOI on Friday...
The development comes after the Delhi High Court rejected the party's plea challenging reassessment proceedings for four assessment years...
The new demand pertains to assessment years 2017-18 to 2020-21 and includes penalties and interest..
The Delhi High Court, on Thursday, dismissed petitions filed by the Congress challenging the initiation of tax reassessment proceedings spanning four years by tax authorities..
In a previous petition dismissed the week before, the Congress party had contested the initiation of reassessment proceedings concerning assessment years 2014-15 to 2016-17...
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Assessment proceedings against Congress were set to get time-barred: Sources
30, Mar, 24Assessments against the Congress party were reopened for 7 years (assessment years 2014-15 to 2020-21), based on incriminating material seized, the sources added. During search operations, specifically in April 2019, extensive use of cash in the electoral process was found, sources added.
Congress gets ₹1,700 crore I-T notice in fresh setback ahead of Lok Sabha elections
29, Mar, 24The Congress is already facing a funds crunch after Income Tax authorities imposed a penalty of ₹210 crore and froze its funds. | Latest News India
‘Unaccounted transactions, concrete evidence’ — HC dismisses Congress challenge to IT reassessment
23, Mar, 24Congress had filed 3 writ petitions challenging Income Tax dept claim that material on record is sufficient to show ‘escaped’ income of party is upwards of Rs 520 crore.
No tax relief, Delhi HC dismisses Cong's plea against recovery of ₹105 crore
13, Mar, 24The Delhi high court refused to interfere with the income tax tribunal order which dismissed Congress's appeal seeking a stay on income tax department notice. | Latest News India
After Rs 1,823-crore notice, Congress cries 'bias, tax terrorism'
30, Mar, 24Congress alleges bias by income tax dept with Rs 1,823.08 crore notice while BJP owes Rs 4,600 crore. The opposition party has levelled allegations against the ruling establishment, claiming they are employing tax terrorism tactics against the Congress ahead of the general election.
Congress to stage nationwide protest against income tax action, freezing of accounts
29, Mar, 24The party said that protests would be held in all constituencies, led by the Lok Sabha candidates, while mashal juloos would be conducted in all districts. | Latest News India
Congress gets fresh I-T notice of over Rs 1,745 crore, total tax demand rises to Rs 3567 crore
31, Mar, 24According to sources cited by PTI, the fresh tax notices relate to 2014-15 (Rs 663 crore), 2015-16 (around Rs 664 crore) and 2016-17 (around Rs 417 crore). The authorities have ended the tax exemption available to political parties and have taxed the party for the entire collections, they added.
Congress cites fresh tax notice to attack BJP, war of words ensues
30, Mar, 24Income Tax authorities served the Congress a notice to pay ₹1,823.08 crore, triggering accusations of "tax terrorism" ahead of elections. | Latest News India
Income Tax department tells SC: 'No coercive steps against Congress till July 24'
01, Apr, 24Solicitor General Tushar Mehta told the Supreme Court that since elections are on, the department does not want any problem to be caused to any party. | Latest News India