Income Tax Department to Proceed with Normal Tax Recovery Process Against Congress: Sources

Income Tax Department to Proceed with Normal Tax Recovery Process Against Congress: Sources

Asif Iqbal | February 16, 2024 | 10:08 PM IST | Politics | Follow on Google News

Income Tax Department to Proceed with Normal Tax Recovery Process Against Congress: Sources

Income Tax Department to Proceed with Normal Tax Recovery Process Against Congress: Sources

The Income Tax department will continue with the regular course of action for tax recovery in the case of the Congress, according to sources. This comes after Congress general secretary Ajay Maken alleged that the party’s accounts have been frozen by the Income Tax department. The Income Tax Appellate Tribunal (ITAT) is set to hear the matter on February 21, and the current due amount from Congress to the Tax Department stands at Rs 115 crores. Sources clarify that no bank operations have been seized or stopped in the Congress bank account freeze case.

Tax Due Pertains to FY 17-18, AY 18-19: Detailed Overview of the Case

The tax due from Congress pertains to the financial year 17-18 and assessment year 18-19, amounting to Rs 115 crores. The initial due to the Tax Department was Rs 103 crores, with an additional Rs 32 crores in interest accrued on late payment. The claims were related to not filing returns on time. The tax due was reassessed at Rs 105 crores on July 6, 2021. The INC (Indian National Congress) appealed before the Commissioner Appeals but did not pay the mandatory 20 percent of the tax. The INC paid only Rs 78 lakh, leading to the dismissal of their plea by the CIT (Appeal). In October 2023, the INC went for a second appeal at ITAT. The Congress paid Rs 1.72 crore in October 2023. The source emphasizes that nowhere in their appeal has the Congress disputed the tax-due amount.

Congress Alleges Political Motive Ahead of Elections: Questions Democracy’s Health

Ajay Maken expressed concern over the alleged freezing of the party’s accounts ahead of the Lok Sabha elections. He questioned the timing and motives, stating that freezing the accounts of an opposition party just before the elections is akin to freezing democracy. Maken highlighted the financial impact on the party’s activities and the inability to pay salaries to office-bearers and cadres. The Congress leader stated that they have filed an appeal with the Income Tax Appellate Tribunal, expressing faith in the judiciary to address the matter.

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Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.