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IT Department claims Rahul Gandhi did not disclose he was director of Young India: Reports

According to a Times Now report, the Income Tax Department has claimed that Congress President Rahul Gandhi hid the fact that he was the co-director of Young India.

The tax files assessed by Times Now states, “It was observed that even though the assessee, Shri Rahul Gandhi, had shares of Young India and also was one of its directors, yet in the statement of assets and liabilities as on 31st of March, 2011, furnished by the assessee during the course of assessment proceedings of the relevant assessment year, i.e. assessment year 2011-12, his ownership of assets of Young India by the assessee was not disclosed by the assessee.”

The Income Tax Department has also stated that Rahul Gandhi declared his income to be just over Rs. 68 lakhs 14 thousand which was from housing properties but after subsequent investigation by a team of the investigation wing, it was discovered that he was a director of Young India which had purchased 99.1% shares of Associate Journals Private Limited (AJL). The Income Tax Department, therefore, suspected that Rahul Gandhi failed to declare a significant chunk of his income.

Republic TV has also accessed IT Notices sent to the Congress President from 2011 to 2018. In one of the notices,  it is said, “I have reasons to believe that your income chargeable to tax of the assessment year of 2011 and 2012 has escaped assessment within the meaning of Section 147 of the Income Tax Act. I, therefore, propose to assess or reassess the income or loss for the said assessment year. I, hereby, require you to deliver to me within 30 days from the service of the notice…”

Young India is at the heart of the National Herald case. Recently, Rahul Gandhi had approached the Court to stay the Income Tax proceedings against him and obtain an order to prevent the media from reporting on it. However, his requests were declined by the Court. The crux of the National Herald case revolves around the allegation that the Gandhis acquired property worth millions and millions of rupees after Young India acquired Associate Journals Limited (AJL), which published the Congress mouthpiece, National Herald, through fraudulent means.

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OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

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