Congress gets fresh income tax notice worth Rs. 1,745 crore
The Congress Party has received another income tax notice from the Income Tax Department totaling more than Rs. 1,745 crore. The fresh notices relate to the assessment years 2014-15 (Rs. 663 crore), 2015-16 (around Rs. 664 crore), and 2016-17 (around Rs. 417 crore), PTI reported. The fresh notice follows a tax demand of Rs. 1,823 crore on Friday. With these new demands, the total sum requested by the Income Tax office from the Congress now stands at Rs. 3,567 crore.
Congress party also taxed for 'third-party entries'
The notices were issued after authorities ended the tax exemption available to political parties and taxed the party for the entire collection. The Congress has also been taxed for "third-party entries," which were allegedly found in diaries confiscated from some of its leaders during raids. These demands have adversely impacted the party, especially after the tax authorities withdrew Rs. 135 crore from its bank accounts due to outstanding dues.
Congress accuses BJP of 'tax terrorism'
Last week, Congress treasurer Ajay Maken argued that the BJP had committed significant tax violations. He stated, "We've analyzed all violations of the BJP using...same parameters they used to analyze our violations. BJP has penalty of Rs. 4600 crore." Maken further claimed that Congress and other opposition parties are being selectively targeted by the I-T department. The party also accused the BJP of engaging in "tax terrorism," suggesting these actions aim to financially weaken them ahead of Lok Sabha elections.
Congress will approach the Supreme Court soon: Maken
Maken had also said the Congress will soon approach the Supreme Court over the I-T department's demands from it. On Thursday, the Delhi High Court dismissed four new petitions filed by the Congress challenging the IT department's reassessment proceedings initiated against it. The court's ruling came after it noted on March 25 that the Congress had delayed its legal challenge until nearing the deadline for assessment completion, implying a deliberate postponement.
