Income Tax Department has reportedly issued demand notice of ₹1,700 crore to Indian National Congress on Friday. The fresh demand notice is for assessment years 2017-18 to 2020-21 and includes penalty and interest, ANI news agency reported citing sources.
For the past few weeks, Congress has claimed that efforts were being made to weaken the party financially by the BJP-led Centre government.
The Congress has accused the saffron party of misusing the central agencies such as the Income Tax department for its benefit.
Tax department could demand ₹500 crore from Congress in reassessment order
Last week, Congress leader Ajay Maken told the media, “The election date has come and we are not able to use ₹285 crore lying in our bank. For publicity, we have to book slots in newspapers and electronic media, we have to get posters printed. If we are not able to do even this work, then how will democracy survive?”
“We have three things to say. Every political party is exempt from income tax. If no one ever gave a penalty, then why is it so with Congress?” Maken asked.
IT dept sending us notices dating back to FY 1994-95, says Ajay Maken
The Congress leader also questioned the timing of the notices is just one month before the announcement of elections.
Earlier on March 8, the Income Tax Appellate Tribunal (ITAT) dismissed the plea moved by the Congress Party which sought a stay against Income Tax Department proceedings of recovery and freezing of their Bank accounts and said the Stay Application is without merit.
In the complaint, Congress had said the Income Tax Department has enforced its law by encashing some of the balances lying with the banks without waiting for the outcome of the hearing scheduled before the bench.
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Published: 29 Mar 2024, 11:14 AM IST