Key Takeaways
- The Congress Party has been granted relief by the ITAT, allowing it to operate its bank accounts.
- The ITAT’s decision is a significant victory for the Congress Party, which can now access its funds.
- The Congress Party’s leader, Vivek Tankha, has welcomed the decision, saying it’s a relief for the party and democracy.
New Delhi: Hours after the Congress party vehemently protested against freezing of its bank accounts by the Income Tax department, a Delhi bench of Income Tax Appellate Tribunal (ITAT) has allowed the grand old party to operate its accounts.
Senior lawyer and Rajya Sabha member from Congress Vivek Tankha announced about the defreezing of bank accounts and noted that certain facts were misconstrued by the Income Tax department.
He also informed that the next hearing by the ITAT will be on Wednesday (February 21).
“The court heard me for some time. I argued that we have a strong case on facts. We filed our return on time, but it’s being misconstrued, which is why we can’t be punished unfairly. Rs 198 crores in revenue and Rs 197 crores in admissible expenditure.” Tankha said.
The senior Congress leader further said that in the income tax tribunal while presenting the party’s case he also urged the court to protect the party and democracy.
“Our revenues for that particular year was Rs 198 crores and we spent admissible expenditure that was incurred was Rs 197 crores. How a taxation of Rs 115-odd crores has been made on us with interest coming to Rs 135 crore. I said it is all I would like to argue on merits. But today protect the party, protect democracy and allow us to operate our bank accounts.
Very graciously the ITAT after talking to the DR (Department of Revenue) has said that there will be only a lien on the bank account. There is no restriction on the bank account. You can operate and then they will hear me on the merits of the case on the interim application that I have filed on Wednesday,” Tankha said in a video on micro-blogging site X.
Earlier, Congress leader Ajay Maken during a press conference alleged that all its accounts including that of the Youth Congress’ have been frozen ahead of the Lok Sabha election and termed it as a deep assault on India’s Democracy.
