Income Tax Department Slaps Indian National Congress with Rs 1700 Crore Demand Notice

The Income Tax Department has issued a demand notice amounting to Rs 1700 crores to the Indian National Congress. This fresh demand notice pertains to the assessment years from 2017-18 to 2020-21 and encompasses penalties and interest charges.

Income Tax Department has issued demand notice of Rs 1700 crores to Indian National Congress. The fresh demand notice is for assessment years 2017-18 to 2020-21 and includes penalty and interest: Sources

— ANI (@ANI) March 29, 2024

On Thursday, the Delhi High Court dismissed petitions filed by the Congress party challenging the initiation of tax reassessment procedures spanning four years by tax authorities.

A bench comprising Justices Yashwant Varma and Purushaindra Kumar Kaurav stated that the petitions were  dismissed in terms of its earlier decision refusing to interfere with the opening of re-assessment for another year. The present matter pertained to assessment years 2017 to 2021.

In a previous petition, which was dismissed last week, the Congress party had contested the commencement of reassessment proceedings concerning the assessment years from 2014-15 to 2016-17.