Business Standard

HC rejects Sonia, Rahul's plea against Income Tax notice

IANS  |  New Delhi 

The on Monday dismissed and his mother Sonia Gandhi's plea challenging the Income Tax notice seeking tax reassessment for the financial year 2011-2012.

A bench of Justice and Justice said the petitions filed by the Gandhis have "failed."

However, the court clarified that the Gandhis could use their rights as the assessee and take up their grievance with the Income Tax authorities.

The order of a bench came while it was hearing the plea of Rahul, and her party colleague against teh March I-T notice seeking tax reassessment. They have allegedly not disclosed their income earned through (YI) for the year 2011-2012.

The I-T department has told the court that they have concealed facts for evading tax.

and are major stakeholders in Young Indian which has acquired (AJL). National Herald newspaper was published by AJL.

"The reference to the monetary nature of the transaction i.e. fair market value, certified by the auditor, means that the promoters and shareholders of the company visualize that the shares of YI, a not-for-profit company, can increase, depending on its activities and income derived by it," the court said.

"This court is of opinion that the assessees' argument about nondisclosure of their interest upon acquiring the shares is unpersuasive," said the bench.

The court also rejected the Sonia Gandhi's submission that Income Tax department had mala fide intention in sending the reassessment notice.

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 directed Young Indian to deposit Rs 10 crore in the Rs 249.15 crore income tax proceedings against the firm.

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 obtained the right to recover Rs 90.25 crore which AJL owed to the

The other accused in the case are Motilal Vora, Suman Dubey, and Young Indian.

--IANS

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First Published: Mon, September 10 2018. 22:10 IST
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