Tuesday, May 26, 2020
Home News Reports Income Tax Tribunal rejects plea by Gandhis in National Herald tax evasion case, says...

Income Tax Tribunal rejects plea by Gandhis in National Herald tax evasion case, says Young Indian is not a charitable organisation

The plea came after the tax department slapped a Rs 100 crore tax notice on the mother-son duo in the AJL case in January 2019, stating that they had “escaped” incomes the tune of hundreds of crores in 2011-12.

Also Read

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

Coming as a major jolt for the Congress party, the Income Tax Tribunal today rejected the demand for tax exemption made by the Gandhi scions. The plea came after the tax department had slapped a Rs 100 crore tax notice on the mother-son duo Sonia Gandhi and Rahul Gandhi in the AJL case in January 2019, stating that they had “escaped” incomes the tune of hundreds of crores in 2011-12.

The tribunal, while hearing the case, held that the company’s activities cannot be termed charitable and ordered to reopen the Rs 100 crore tax file.

According to the copy of the order of the Income Tax Tribunal hearing the case which has been accessed by Times Now, the Gandhi family had refused to declare Rs 100 crore as their income, claiming that Young Indian is a charitable trust and therefore it should be exempt from tax payments.

- article continues after ad - - article resumes -

The tribunal has asserted that the activities which were being carried out in the company do not fall under the category of a charitable institution. Therefore, the applicants’ demand for tax exemption is rejected.

In January 2019, the income tax department had passed an order for a reassessment of their incomes regarding Associated Journals Limited (AJL) and had slapped a Rs 100 crore tax notice on Sonia and Rahul Gandhi, stating, that UPA Chairperson and Congress President have “escaped” a tax liability of around Rs 100 crore.

The amount of tax liability on both Sonia and Rahul Gandhi was pegged at Rs 155.4 crore and Rs 154.96 crore for the same year. This staggering amount is reportedly over the stated income of both Sonia and Rahul Gandhi. Rahul Gandhi had filed a return of income declaring Rs 68.1 lakh while Congress leader Oscar Fernandes had declared Rs 48.9 crore.

Also Read- Acquisition of AJL by Young India a ‘clandestine and surreptitious transfer of lucrative interest, dishonest and fradulent’: Delhi HC

- article continues after ad - - article resumes -

The mother-son duo had submitted that they have no legal obligation to give details of their shares in Young India as they do not form any “interest” in a company. They had also claimed that the shareholding in Young India will not result in any interest that needs disclosure as the shareholder and also does not yield dividends or interest in the property of such a company as it a non-profit and charitable company.

The National Herald case is an ongoing case in a Delhi court against Congress supremo’s Sonia Gandhi and Rahul Gandhi, their companies and associated persons.

As per the complaint filed in the court of the Metropolitan Magistrate, Associated Journal Limited (AJL) took an interest-free loan of Rs 90.25 crores from Indian National Congress. It is alleged that the loan was not repaid. A closely held company, the Young Indian Company, which was incorporated in November 2010 with a capital of Rs 50 lakh had acquired almost all the shareholding of AJL and all its properties (alleged to be worth Rs 5,000 crores). BJP’s Subramanian Swamy, who had filed the case, alleged criminal misappropriation by both Sonia Gandhi and Rahul Gandhi.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

Trending now

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

25 lakh migrant workers returned to state so far amidst Coronavirus pandemic: UP CM Yogi Adityanath

The Yogi Adityanath govt has been working relentlessly to provide employment and various other facilities to the migrant workers who have returned to the state amidst the nationwide lockdown

UP: Police books over two dozen people for gathering in large groups to offer Eid namaz in a Muzaffarnagar Mosque

Defying administration's repeated appeals, a raft of Muslims congregated at the mosque in Kajian colony in Muzaffarnagar to offer prayers on the occasion of Eid-al-Fitr

Styrene gas tragedy: LG Polymers was warned over toxic styrene levels, green ministry red flags delay by Andhra govt: Report

A major chemical leak from the LG Polymers plant near Visakhapatnam impacted villages in a five-km radius

Coronavirus outbreak: Congress demands a fresh Union Budget, claims the pandemic demands increased spending by the centre

Senior Congress leader P Chidambaram in his column has argued that the present scenario has rendered the Union Budget declared in February irrelevant

England: Pakistani arrested for vandalising Guru Arjan Dev Gurdwara, note on Kashmir posted in the Gurdwara recovered

In the attack which took place on May 25 morning at Guru Arjan Dev Gurdwara in Derby, England, the unidentified man had broken the Gurudwara's windows

China to evacuate its citizens from India amidst pandemic and rising border tensions: Here are the details of the press release

A notice has been published on the Chinese embassy website which states that students, tourists and businessmen who have been stranded in India will be allowed to fly back to China on special flights

Recently Popular

Here is the truth about the fake TIME magazine cover page shared by Ravish Kumar and subsequently deleted

His legendary capacity to peddle fake news was once again exposed when Ravish Kumar shared a fake TIME magazine cover in a bid to malign PM Modi.

Pinjra Tod ‘activist’ arrested for inciting Delhi riots was a columnist with The Wire and Newslaundry

Delhi police arrested two women, Natasha Narwal, who was also a columnist with The Wire and Devangna Kalita for inciting the anti-Hindu Delhi riots

Mumbai Police issues prohibitory order, to take action against messages on social media: Here is how it curbs criticism against Uddhav Govt

For MLA Aaditya Thackeray too, the most worrying aspect of the pandemic in Maharashtra is the ‘hate on social media'

Maharashtra: After Palghar lynching, two Sadhus brutally killed inside ashram in Nanded

The bodies of the Sadhus were found in their ashram in Maharashtra's Nanded late on Saturday night

Delhi: Tanker operators say AAP MLA Prakash Jarwal collected bribes up to Rs 60 lakhs a month

The accusations of graft against AAP MLA Prakash Jarwal came to light after a water tanker owner, Dr Rajendra Singh, committed suicide alleging harassment for payment from the AAP MLA and his aide Kapil Nagar

Connect with us

228,071FansLike
349,926FollowersFollow
242,000SubscribersSubscribe
Advertisements