The Income Tax Appellate Tribunal (ITAT) has rejected a plea filed by the Congress Party searching for a stay on Income Tax Department proceedings to get better dues and freeze their bank accounts. Senior counsel Vivek Tankha, representing the Congress Party, urged the ITAT to droop the order for ten days to permit them to attraction within the High Court. Tankha emphasised the numerous penalties of the choice for the party’s monetary affairs, stating, “Since you have dismissed the stay application, which has far-reaching consequences for the party. Can I request the court to keep the order in abeyance for 10 days so that I can go to high court?”
ITAT refuses entertain plea
However, the appellate tribunal refused to entertain the plea, citing their lack of authority to concern such orders.
Background of the case
The stay utility was associated to the IT division’s demand of Rs 210 crore, raised in reference to the revenue tax return from 2018–19. Congress argued that the lien on their bank account severely affected their monetary place, particularly with the upcoming normal elections on the horizon.
Arguments introduced
During the listening to on February 22, Tankha argued that the social gathering was financially constrained, significantly with the necessity to fund its election marketing campaign. He highlighted the numerous bills concerned in contesting elections, with every candidate allowed to spend up to Rs 95 lakh underneath the Representation of Peoples Act, 1951.
IT division’s response
The IT division argued on February 21 that the demand wouldn’t hinder Congress’s electoral actions, citing the party’s substantial monetary assets.
Previous allegations and clarifications
On February 16, Congress treasurer Ajay Maken alleged that the party’s bank accounts had been frozen, with a requirement of Rs 210 crore raised by the IT division. However, Tankha later clarified that the ITAT had permitted Congress to function the bank accounts, albeit with a lien.
IT division’s assertion
The IT division countered, stating that that they had not issued any orders to freeze transactions in Congress’s bank accounts.
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