The Congress was served a notice of Rs 1,700 crore by the Income Tax Department, hours after the Delhi High Court rejected the party's pleas against tax reassessment proceedings.

The development was confirmed by Congress leader Vivek Tankha. The notice was served for the assessment years 2017-18 and 2020-21, and included penalty and interest.

On Thursday, the Delhi High Court rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.

A bench of Justices Yashwant Varma and Purushaindra Kumar Kaurav said the pleas were dismissed in terms of its earlier decision refusing to interfere with the opening of re-assessment for another year.

The present matter pertains to the assessment years 2017 to 2021. In the earlier petition, which was dismissed last week, the Congress party had challenged the initiation of re-assessment proceedings pertaining to the assessment years 2014-15 to 2016-17.

Source: India Today