News Brief
Congress Approaches Income Tax Appellate Tribunal After I-T Department Recovers Rs 65 Crore From Party's Account
Income Tax Department
Congress has approached the Income Tax Appellate Tribunal (ITA) after the I-T department recovered Rs 65 crore from the bank account of the party.
The I-T Department on Tuesday (20 February) recovered Rs 65 crore from the account of the Indian National Congress out of the total outstanding tax dues of Rs 115 crore, ANI reported citing sources.
In response, the Congress on Wednesday (21 February) approached the Income Tax Appellate Tribunal (ITAT) against the recovery and has filed a complaint.
Also Read: The IBC 'Resolution' Effect: Promoters Settle Rs 10 Lakh Crore In Defaults To Avoid NCLT Proceedings
The Congress party in its complaint stated that the I-T Department has "enforced its lein by encashing some of the balances lying with the banks without waiting for the outcome of the hearing scheduled before the bench".
The party appealed that the I-T department should not proceed further till the disposal of the stay application.
As a result, the ITAT has directed that the status quo be maintained till the matter is heard today at 2.30 pm.
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