The Delhi High Court has dismissed Congress party's pleas challenging the reassessment proceedings initiated against it by the Income Tax Department.
The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav dismissed the petition filed by the Congress against the initiation of income tax re-assessment proceedings against it for three years (2014-15, 2015-16 and 2016-17) by the tax authorities. A detailed order is awaited.
Senior Lawyer Abhishek Singhvi appeared for the Congress party and Special Counsel Zoheb Hussain appeared for the Income Tax Department in the case. Singhvi submitted that tax reassessment proceedings are barred by limitation and the I-T department could have gone back to a maximum of six assessment years.
However, the Income Tax Department has claimed that there has been no violation of any statutory provision by the tax authority and as per the material recovered, the ‘escaped’ income by the party is more than Rs 520 crore.
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