Thu. Apr 25th, 2024
I-T breather for Congress

New Delhi: The Revenue Tax department on Monday educated the Supreme Court docket that it will not just take any coercive motion to recuperate Rs 3,567 crore from Congress party in the course of the Lok Sabha elections.

The department urged the courtroom to reschedule the listening to for June and emphasized its dedication to preventing disruptions for any political occasion through the electoral approach.

Looking at the desire, the court stated the issue for July 24, 2024.

In mounting issues for the Congress, the party mentioned it has gained notices from the Earnings Tax office, increasing a tax demand from customers of Rs 1,745 crore for the evaluation years 2014-15 to 2016-17. With this latest discover, the Earnings Tax office has raised a complete desire of Rs 3,567 crore from the Congress.

In accordance to resources, the fresh new tax notices relate to 2014-15 (Rs 663 crore), 2015-16 (around Rs 664 crore) and 2016-17 (all over Rs 417 crore). The authorities have ended the tax exemption readily available to political functions and have taxed the get together for the complete collections, they additional.

The Congress has also been taxed for “third-party entries” produced in diaries seized from some of its leaders by probe agencies throughout raids, the sources mentioned.

The occasion on Friday stated that it has gained notices from the I-T office, asking it to pay out all over Rs 1,823 crore. The tax authorities have by now withdrawn Rs 135 crore from the party’s accounts for a tax desire relating to preceding yrs.

The Congress has moved the court docket in opposition to the Rs 135-crore tax need, and the case is very likely to occur up in advance of the Supreme Court docket on Monday. The bash has failed to get any relief from the Superior Courtroom of the Income Tax Appellate Tribunal in this regard.

Congress leaders have contended that identical third-celebration entries naming BJP leaders in other diaries have not been levied any tax. They have accused the BJP of indulging in “tax terrorism” and financially crippling the principal opposition celebration through the 2024 Lok Sabha elections.

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