Congress disclosed Rs 1,000 cr corpus at end of last financial yr: Tax dept

Congress had disclosed a corpus and cash of over Rs 1,000 crore at the end of the last financial year, in addition to fixed assets of Rs 340 crore, the income tax department told the tax tribunal earlier this month. While arguing before the Delhi bench of Income Tax Appellate Tribunal against Congress’s petition seeking stay on proceedings against the party, the I-T department’s senior standing counsel Zoheb Hossain said the action by tax authorities did not cause any hardship to the party as it had disclosed a corpus.

from Times of India https://ift.tt/kI0ePmT