New Delhi: The Delhi High Court on Friday dismissed the petitions moved by the Indian National Congress (INC) Party against the Income Tax Department order opening assessment proceedings for years 2014-2015, 2015-2016 and 2016-2017.
The bench of Justice Yashwant Verma and Justice Purushaindra Kumar Kaurav passed the order and dismissed the plea.
Senior Advocate Abhishek Manu Singhvi appeared for the Congress party and Special Counsel Zoheb Hossain appeared for the Income Tax Department in the matter.
Singhvi submitted that the Reassessment action of the income tax Department is "barred by limitation" as they could have gone back to a maximum of six assessment years.
After the bench query the IT Department apprised the court that as per the seized material, the amount is about Rs520Cr. (with ANI inputs)
