NEW DELHI: After an earnings tax demand of Rs 1,823 crore as of Friday, Congress acquired three extra notices Saturday, taking the full demand on the get together to Rs 3,567 crore, an “astronomical figure” that’s sure to complicate the get together’s political operations through the Lok Sabha elections.The most recent calls for of over Rs 1,744 crore pertain to 2014-15 (Rs 663.05 crore), 2015-16 (Rs 663.89 crore) and 2016-17 (Rs 417.31).The full demand is greater than two-and-a-half instances the money and property disclosed – over Rs 1,385 crore – by the get together on the finish of March 2023.In an indication of the urgency within the opposition get together, Congress has approached Supreme Courtroom towards a Rs 135 crore restoration discover issued by earnings tax dept, and sought to membership the matter with a particular depart petition filed in 2016, which pertains to a 1994-95 case during which the division lately raised a Rs 53 crore demand.I-T dept is prone to contest the clubbing of the circumstances when it comes up for listening to Monday, arguing the 2 are separate and Congress has jumped the queue and never gone to commissioner (appeals). Tax calls for of Rs 3,567cr in 3 days ‘overtly compromised’ to focus on BJP’s rival: Congress Within the earlier particular depart petition (SLP) filed in SC, the unique demand was round Rs 26 crore, which was lowered to Rs 11-12 crore through the appeals stage, which has now crossed the Rs 50 crore mark after including curiosity.”This is height of insanity. A demand of tax on Congress of an astronomical figure of Rs 3,567.3 crore in last 3 days. This is in addition to Rs 135 crore already recovered from Congress bank accounts recently. BJP must thank and felicitate select officers of the revenue dept for their studious & loyal adherence to the BJP mission of ‘Congress Mukt Bharat’,” Congress MP and lawyer Vivek Tankha mentioned. Calling the I-T calls for as “brazenly compromised” to focus on a political rival of BJP, he mentioned tax has been levied on “third-party entries” of some diaries seized throughout so-called raids, whereas comparable entries in Birla-Sahara diaries that includes the names of PM Modi and former MP CM Shivraj Chauhan weren’t recognised as legitimate entries. “It is a case of targeting Congress party on the eve of elections. Where is the level playing field for opposition parties? It raises questions of fairness on the present election process,” Tankha mentioned.The demand for evaluation yr 1994-95 was raised because the exemption accessible to political events underneath Part 13(A) of the Earnings Tax Act had been cancelled by the division, just like the Rs 135 crore case referring to evaluation yr 2018-19. In 2018-19, Congress get together had not solely didn’t file the return by the prolonged deadline of Dec 2018, however the tax division has argued that there have been money donations of over Rs 2,000, which isn’t permitted underneath regulation.Within the newest set of notices following reassessment of earnings for seven years (evaluation years 2014-15 to 2020-21), the demand consists of tax & curiosity, govt sources defined.Aside from proof of widespread use of money receipts and funds, one thing that was discovered throughout raids in MP, Gujarat, Karnataka and Andhra Pradesh, there have been a number of units of paperwork and digital proof that the I-T authorities have relied upon through the reassessment proceedings. “In one of the cases, the department had information of cash being present in a location, which was found to be true as Rs 10 crore was recovered,” a supply mentioned.Delhi HC had dismissed writ petitions towards the reassessment motion, being attentive to seizures throughout tax searches.
#Recent #notices #Complete #tax #demand #Congress #3.5k #crore #India #Information
For more information, check out these articles:
For more resources, check out the following links:
