Congress On Bank Accounts Row: “We Don’t Have That Much – 115 Crores Frozen

The freeze reportedly stems from a tax demand of Rs 210 crore raised by the Income Tax department. However, the party swiftly challenged the move, and the Income Tax Appellate Tribunal granted relief by de-freezing the accounts until a final hearing next week. The Congress issued a clarification stating that the party is mandated to ensure that a sum of Rs 115 crore has to be maintained in their bank accounts. The amount has to remain untouched in compliance with the directive from the tax authorities, implying a freeze on these funds.

“This means that Rs 115 crore have been frozen. This Rs 115 crore is much more than we have in our current accounts,” the Congress said. In a press conference earlier today, party treasurer Ajay Maken described the move as a “disturbing blow to the democratic process”. The freeze reportedly stems from a tax demand of Rs 210 crore raised by the Income Tax department, a move that the Congress claims is politically motivated and strategically timed to disrupt the party’s election preparations.

The Congress leader said that the party has taken legal action in response to the freeze, with the matter currently before the income tax appellate tribunal. In a press conference, Mr Maken explained that they chose not to disclose the information earlier as the hearing is pending. The party learned about the freezing of its accounts yesterday, and the party’s lawyer Vivek Tankha said that a total of four accounts have been affected. Party president Mallikarjun Kharge voiced his apprehension, stating, “Intoxicated with power, the Modi government has frozen the accounts of the country’s largest opposition party – the Indian National Congress – just before the Lok Sabha elections.

This is a deep blow to democracy.” This development comes on the heels of the Supreme Court, in a landmark judgment, striking down the electoral bonds scheme. The electoral bonds scheme, introduced by the government on January 2, 2018, was seen as a solution to replace cash donations and enhance transparency in political funding.