New Delhi: The Delhi High Court dismissed petitions filed by Congress difficult the initiation of tax re-assessment proceedings against it for a interval of 4 years by tax authorities. The current matter pertained to evaluation years 2017 to 2021.
The bench of Justices Yashwant Varma and Purushaindra Kumar Kaurav rejected the pleas, stating that they have been dismissed in accordance with its earlier choice refusing to intervene with the opening of re-assessment for one more 12 months.
In the sooner petition, which was dismissed final week, the Congress celebration had challenged the initiation of re-assessment proceedings pertaining to evaluation years 2014-15 to 2016-17.
The High Court had beforehand declined to intervene within the order of the Income Tax Appellate Tribunal, which had refused to remain a discover issued by the Income Tax division to Congress for the restoration of excellent tax exceeding Rs 100 crore. The tax demand arose from the evaluation 12 months 2018-19, throughout which the assessed revenue was decided to be over Rs 199 crore.
ITAT dismissed Congress’s plea
The Income Tax Appellate Tribunal dismissed the plea moved by the Congress Party which sought a keep against Income Tax Department proceedings of restoration and freezing of their financial institution accounts and stated the “Stay Application is without merit.”
ITAT bench of GS Pannu, Vice President and Anubhav Sharma, Judicial Member on Friday handed the order and stated, “We do not find that the recovery notice under Section 226(3) of the Act issued by the Assessing Officer on February 13, 2024 is lacking in bona fides, so as to require us to intervene.”
(With PTI inputs)
