After the Delhi High Court’s rejection of the Congress party’s appeals against tax reassessment procedures, the Income Tax Department served them a notice amounting to Rs 1,700 crore. This development was confirmed by Congress leader Vivek Tankha.
The notice covers the assessment years 2017-18 and 2020-21, incorporating penalties and interest charges. The Delhi High Court, on Thursday, dismissed the Congress’s petitions contesting the commencement of tax reassessment proceedings for a span of four years by tax authorities. Justices Yashwant Varma and Purushaindra Kumar Kaurav, comprising the bench, upheld their earlier decision, declining interference with the opening of re-assessment for an additional year.
The current issue revolves around the assessment years 2017 to 2021. In the preceding petition, dismissed the previous week, the Congress party contested the initiation of re-assessment procedures pertaining to the assessment years 2014-15 to 2016-17.
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