A division bench of Justices Yashwant Varma and Purushaindra Kumar Kaurav, while delivering the verdict, stated, "We dismiss the writ petitions." The high court had reserved its decision on March 20 regarding the petitions filed by the political party against the tax reassessment proceedings launched by the authorities for three consecutive years: 2014-15, 2015-16, and 2016-17.
The party has challenged the reassessment proceedings, arguing that they were time-barred.
Appearing for the Congress party, Senior advocate Abhishek Singhvi contended that tax reassessment proceedings are restricted by limitation, with the Income Tax Department permitted to revisit a maximum of six assessment years. However, the Income Tax department countered, asserting that there was no breach of any statutory provision by the tax authority and that, based on the material recovered, the party's "escaped" income amounts to over Rs 520 crore.
هذه القصة مأخوذة من طبعة March 23, 2024 من The Daily Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 23, 2024 من The Daily Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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