The Income Tax department notified the Supreme Court of its decision not to pursue coercive measures to recover Rs 1,700 crore from the Congress party amidst the Lok Sabha elections. The department appealed to the court to postpone the hearing until June, emphasizing its commitment to preventing disruptions for any political party during the electoral process.
"There is no problem to any political party," Solicitor General Tushar Mehta, representing the tax department, told the apex court.
The Congress party is facing escalating challenges as it acknowledges receipt of notices from the Income Tax department, indicating a tax liability amounting to Rs 1,745 crore for the assessment years 2014-15 to 2016-17. This development adds to the cumulative demand issued by the Income Tax department, which now totals Rs 3,567 crore against the Congress party.
Also Read| Income Tax Department Slaps Indian National Congress with Rs 1700 Crore Demand Notice
On Friday, 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.
PTI sources have revealed that the recent tax notifications pertain to the fiscal years 2014-15 (Rs 663 crore), 2015-16 (approximately Rs 664 crore), and 2016-17 (around Rs 417 crore). Authorities have revoked the tax exemption previously applicable to political parties, opting to levy taxes on the entirety of the party's collections, as per the sources.