Business Standard

Young Indian moves HC against I-T proceedings

IANS  |  New Delhi 

(YI), whose major stakeholders are and his mother Sonia Gandhi, on Wednesday moved 249.15 crore income tax proceedings against the firm.

The Young Indian requested a bench of Justices and 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 submitted that it is a charitable firm and does not have any income and the Income Tax authorities have wrongly raised a demand of Rs 249 crore for the assessment year 2011-12.

The court listed the matter for March 19 for further hearing.

had filed a complaint about "cheating" in the acquisition of (AJL), which published newspaper, by Young Indian, "a firm in which Sonia and each own a 38 per cent stake".

Swamy had accused them of allegedly conspiring to cheat and misappropriate funds by just paying Rs 50 lakh, by which Young Indian obtained the right to recover Rs 90.25 crore which AJL owed to the

Former and her son and party's current Rahul Gandhi, party leaders and Oscar Fernandes, Suman Dubey, and Young Indian are accused in the case.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 22:10 IST