Sunday, April 21, 2024

Income Tax: Congress gets a blow: Party's appeal against freezing of bank accounts rejected | leader

Leaders Online Desk: The Income Tax Appellate Tribunal on Friday rejected the Congress party's plea seeking a stay on the Income Tax department's sealing of its bank accounts. The Congress party had sought a ten-day period to file an appeal in the High Court, during which the tribunal rejected the request for a stay on the proceedings.

Since 2019, there has been a dispute between the Income Tax Department and the Congress Party regarding tax. This is a tax dispute from 2018-2019. In 2018-2019, the tax claim was 103 crores, which was later revised to 105 crores. After earning interest of Rs. 30 crores, this tax claim is Rs. 135 crores.

The Congress had claimed before the tribunal that the Income Tax department had wrongly withdrawn Rs 65 crore from the party's bank account. On February 16, the main account of the Congress party was frozen. The Tribunal then allowed the account to be used during the hearing. Our party is 100 years old. All this is going on to prevent us from participating in the elections, the party's lawyers had said. The Income Tax Department, however, rejected this statement of the Congress.

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