The Delhi High Court on Friday rejected Congress's petition challenging the tax re-assessment proceedings for three consecutive years from 2014 to 2017 initiated against the party by the Income Tax Department. A bench of Justices Yashwant Varma and Purushaindra Kumar Kaurav announced the verdict.

The court had on March 20 reserved its order in the matter after hearing Abhishek Manu Singhvi, appearing for the Congress, and Zoheb Hossain, on behalf of the tax department.

The Congress has contested the re-assessment proceedings, claiming the tax department was "barred by limitation" as they could have gone back to a maximum of six assessment years.

The tax department, however, stated that there was no violation of any statutory provision by the tax authority. It also said that as per the materials seized, the alleged 'escaped' income by the Congress is over Rs 520 crore.

Earlier this month, the Delhi High Court upheld the Income Tax Appellate Tribunal (ITAT) order, rejecting Congress's application for a stay on a tax department notice for recovery of dues of more than Rs 100 crore.

"We find no ground to interfere with the (impugned) order," a division bench comprising Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav had said.

However, the Delhi High Court had granted liberty to Congress to move the ITAT again in case of any change of circumstances.

Source: India Today