More Trouble For Congress Ahead Of Lok Sabha Polls: I-T Department Issues Rs 1,700 Crore Tax Notice To The Party

In another setback for the Congress party, the Income Tax Department has served a notice of approximately Rs 1,700 crore, exacerbating its financial woes ahead of the 2024 Lok Sabha elections, as reported by ANI.

The development follows the earlier dismissal of the party's petition by the Delhi High Court, challenging reassessment proceedings for four assessment years.

The fresh demand spans assessment years 2017-18 to 2020-21, encompassing penalties and interest.

Additionally, the Congress awaits reassessment for three more assessment years, with a looming deadline.

Congress lawyer and Rajya Sabha MP Vivek Tankha, who represented the party in the High Court, confirmed the receipt of notices and affirmed the party's intent to pursue legal recourse.

However, Tankha criticized the Income Tax Department's actions as undemocratic and unreasonable, alleging that the latest notice was issued without essential accompanying documents.

Prior to this notice, the tax department had already recovered Rs 135 crore from Congress bank accounts in Delhi, related to tax arrears and interests for the assessment year 2018-19.

On 22 March, the court dismissed Congress's petitions challenging tax reassessment proceedings for the assessment years 2014-15, 2015-16, and 2016-17.

Nevertheless, it refrained from conclusively determining whether the alleged delay in initiating proceedings would adversely affect the assessment, deferring this issue for further consideration at a later stage.

Also Read: Former CM H D Kumaraswamy Predicts Fall Of Congress-Led Government In Karnataka Before 2024 End: Here's Why