BIG setback to Congress: Tribunal dismisses appeal challenging ₹199 Crore tax demand for FY18-19
The Tribunal rejected the party's claim for exemption on the ground that there was a violation of the conditions in Section 13A of the Income Tax Act, legal news website LiveLaw reported.
'The assessee's return filed on 2.02.2019 is not within the 'due' date to make it eligible for the impugned exemption,' the ITAT said in the order issued on 21 July, according to a report in NDTV.
The Congress party filed its income tax return on 2 February 2019, well beyond the due date of 31 December 2018, and declared nil income. It also claimed an exemption of ₹ 199.15 crore.
However, under Section 139(4B) of the Act, political parties must file their returns within the 'due date' to qualify for this exemption. The ITAT rejected Congress party's argument that a belated return, like those permitted for charitable trusts under Section 12A, should suffice.
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