Congress Hand Knows How To Loot! I-T Serves Congress Rs 1, 700 Crore Notice After HC Rejects Its Plea On Reassessment
The tax department has recovered Rs 135 crore from Congress bank accounts in Delhi, pertaining to tax arrears and interests for the assessment year 2018-19.
◆ The Congress has looted Rs 48,20,69,00,00,000 (nearly Rs 5 trillion) from the public in 70 years of its rule.
◆ That money could have been utilised for so many useful areas of security and development.
◆ Using this much amount, 24 INS Vikrant, 300 Rafale jets, and 1,000 Mangal Missions could have been made or purchased. But the country has to bear the cost of Congress’ corruption, and it lagged behind in the race of progress.
◆ Keeping the whole 70 years aside, if we only look at the last tenure of 2004-14, it was a ‘Lost Decade.
◆ This was only the “trailer” of Congress’s corruption, the “movie” is still not over.
In a significant blow to Congress, the Income Tax Department has issued a notice of around Rs 1,700 crore to the party, compounding its financial concerns ahead of the 2024 Lok Sabha elections.
■ This development comes following the Delhi High Court’s dismissal of the party’s petition contesting reassessment proceedings for four assessment years.
■ The fresh demand covers assessment years 2017-18 to 2020-21 and includes penalties and interest.
■ The Congress is currently awaiting the reassessment of its income for three additional assessment years, with the deadline set for Sunday.
■ The tax department has already recovered Rs 135 crore from Congress bank accounts in Delhi, pertaining to tax arrears and interests for the assessment year 2018-19. This action was taken after the party was denied exemption due to failure to meet prescribed conditions.
■ On Thursday, the Delhi High Court dismissed Congress’s petitions contesting the income tax reassessment proceedings for the financial years 2017-18 to 2020-21.
■ The court indicated that both Congress and the Income Tax Department were in agreement regarding the conclusion of the challenge presented in these petitions, aligning with the court’s previous decision on the party’s challenge to reassessment proceedings for the years 2014-2017.
■ The court on March 22 had rejected Congress’s pleas contesting tax reassessment proceedings for the assessment years 2014-15, 2015-16, and 2016-17.
However, it left open the question of whether the asserted delay in commencing proceedings would have a detrimental impact on the assessment itself, to be addressed at a later stage.
