Rahul Gandhi and Sonia Gandhi are major stakeholders in Young Indian which has acquired Associated Journals Limited (AJL)
Rahul Gandhi
The Delhi High Court on Monday dismissed Congress President Rahul Gandhi and his mother Sonia Gandhi's plea challenging the Income Tax notice seeking tax reassessment for the financial year 2011-2012.
The order of a bench came while hearing the plea of Rahul, Sonia Gandhi and her party colleague Oscar Fernandes against March I-T notice seeking tax reassessment. They have allegedly not disclosed their income earned through Young Indian Pvt Ltd (YI) for the year 2011-2012.
The I-T department has told the court that they have concealed facts for evading tax.
ADVERTISEMENT
Rahul Gandhi and Sonia Gandhi are major stakeholders in Young Indian which has acquired Associated Journals Limited (AJL). National Herald newspaper was published by AJL. Earlier in March, Young Indian requested the court to stay the recovery of tax and interest of Rs 249.15 crore raised in pursuance to a December 27, 2017 notice issued under section 156 of the IT Act for the assessment year 2011-12.
The company has submitted that it is a charitable firm and does not have any income and that Income Tax authorities have wrongly raised a demand of Rs 249 crore for the assessment year 2011-12. On March 19, the Delhi High Court directed Young Indian to deposit Rs 10 crore in the Rs 249.15 crore income tax proceedings against the firm.
Bharatiya Janata Party leader Subramanian Swamy had filed a complaint of "cheating" in the acquisition of AJL. Swamy had accused them of allegedly conspiring to cheat and misappropriate funds by paying only Rs 50 lakh, by which Young Indian Pvt Ltd obtained the right to recover Rs 90.25 crore which AJL owed to the Congress. The other accused in the case are Motilal Vora, Suman Dubey, Sam Pitroda and Young Indian.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
