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.
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.