New Delhi: The Delhi High Court dismissed petitions filed by Congress challenging the initiation of tax re-assessment proceedings against it for a period of four years by tax authorities. The present matter pertained to assessment years 2017 to 2021.
The bench of Justices Yashwant Varma and Purushaindra Kumar Kaurav rejected the pleas, stating that they were dismissed in accordance with its previous decision refusing to interfere with the opening of re-assessment for another year.
In the earlier petition, which was dismissed last week, the Congress party had challenged the initiation of re-assessment proceedings pertaining to assessment years 2014-15 to 2016-17.
The High Court had previously declined to intervene in the order of the Income Tax Appellate Tribunal, which had refused to stay a notice issued by the Income Tax department to Congress for the recovery of outstanding tax exceeding Rs 100 crore. The tax demand arose from the assessment year 2018-19, during which the assessed income was determined 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 stay against Income Tax Department proceedings of recovery and freezing of their bank accounts and said the "Stay Application is without merit."
ITAT bench of GS Pannu, Vice President and Anubhav Sharma, Judicial Member on Friday passed the order and said, "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)
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