NEW DELHI: The Delhi high court on Thursday rejected a plea by the Indian National Congress party, contesting an order from the Income Tax department regarding reassessment proceedings spanning four years. This follows the recent dismissal by the court of Congress’ plea regarding reassessment for the years 2014 to 2017.
Earlier on March 22, A bench of Justices Yashwant Varma and Purushaindra Kumar Kaurav dismissed the plea filed by the Congress against the tax reassessment proceedings initiated against it by the authorities for three successive years, that is, 2014-15, 2015-16 and 2016-17.
The party had objected to the reassessment proceedings, arguing that they were time-barred.
Senior advocate Abhishek Singhvi, appearing for the Congress party, had argued that the tax reassessment proceedings are time-barred, with the Income Tax department being limited to revisiting assessments for a maximum of six years.
The Income Tax department countered, asserting that there was no breach of any legal provision on its part, and based on the evidence gathered, the party’s “escaped” income amounted to over Rs 520 crore.
Earlier on March 22, A bench of Justices Yashwant Varma and Purushaindra Kumar Kaurav dismissed the plea filed by the Congress against the tax reassessment proceedings initiated against it by the authorities for three successive years, that is, 2014-15, 2015-16 and 2016-17.
The party had objected to the reassessment proceedings, arguing that they were time-barred.
Senior advocate Abhishek Singhvi, appearing for the Congress party, had argued that the tax reassessment proceedings are time-barred, with the Income Tax department being limited to revisiting assessments for a maximum of six years.
The Income Tax department countered, asserting that there was no breach of any legal provision on its part, and based on the evidence gathered, the party’s “escaped” income amounted to over Rs 520 crore.