Delhi High Court rejects Congress’s plea against tax reassessment
The HinduIn a huge setback to the Congress ahead of the Lok Sabha elections, the Delhi High Court on Friday rejected its pleas challenging the reassessment proceedings initiated against it by the Income Tax department. The Congress has challenged initiation of proceedings under Section 153C of the Income Tax Act for assessment pertaining to assessment years 2014-15 to 2016-17. The I-T department, on the other hand, asserted there was no violation of any statutory provision and cumulative figure attributed to income from AYs 2014-15 to 2020-21 which has allegedly escaped assessment would stand at approximately ₹520 crore. Last week, the High Court had refused to interfere with the order of the Income Tax Appellate Tribunal declining to stay a notice issued by the Income Tax department to the Congress for the recovery of outstanding tax of more than ₹100 crore.