Income Tax catches Rahul for hushing up Young Indian Directorship & Rs.154 crores income. Rahul approaches Delhi HC to quash Tax order

More disclosures emerge to damage Rahul and Sonia in the National Herald case

More disclosures emerge to damage Rahul and Sonia in the National Herald case
More disclosures emerge to damage Rahul and Sonia in the National Herald case

The Delhi High Court on Wednesday denied relief to Congress President Rahul Gandhi from restraining Income Tax for reassessing his Income Tax return of 2011-2012, for hiding his Directorship in Young Indian in the National Herald case. After slapping a fine of Rs.250 crores on Sonia Gandhi and Rahul Gandhi firm Young Indian on December 2017, for hushing up the Rs.414 crores income in 2011, the Income Tax found that Rahul Gandhi hushed up his Directorship in Young Indian in tax returns as well.

Income Tax served notice on Rahul Gandhi for re-assessing his Income Tax return of 2011-2012 in March 2018 and he approached the Delhi High Court for quashing the Income Tax move accusing them of coercing. However the Judges declined to give relief. The Court also rejected Rahul’s demand to ban media from reporting the Income Tax procedures in the National Herald case.

The bench of Justices S Ravindra Bhat and A K Chawla listed the matter for further hearing on August 14, after Additional Solicitor General (ASG) Tushar Mehta opposed issuance of any interim order by the court. The ASG, however, assured the bench that till the next date, no coercive step would be taken against Rahul by the tax department.

Rahul’s lawyers led by Arvind Datar argued that they had received no income from Young Indian and sought an interim order from the court as the case related to the assessment is listed in the Income Tax Appellate Tribunal on Thursday (August 9).

Here the interesting fact is that the National Herald scam was exposed by BJP leader Subramanian Swamy in November 1, 2012. This shows that during the filing of his Income Tax Returns of 2011-2012, Rahul cleverly hid his Directorship of his then secret firm Young Indian, floated to covertly acquire the entire assets of defunct newspaper National Herald.

According to the tax department, Rahul’s assessment for the years 2011-12 was decided to be reopened as he did not disclose that he was a director in the company — Young Indian Pvt Ltd (YI) — since 2010.

As per the tax department, the shares Rahul has in YI would lead him to have an income of Rs.154 crores and not about Rs.68 lakhs, as was assessed by it earlier.

The department has in the instant case applied section 147 of the Income Tax Act, which provides for bringing under the tax net any income which has escaped assessment in the original assessment.

Rahul’s lawyers said the query put to their client during the scrutiny of his assessment was whether he had any interest in any company or sister concern in which he was a director and he had replied in

the negative as YI was a Section 25 company, a non-profit entity, and hence no director would have any interest in it. To this, the bench remarked, “in which event, it is a nice conduit”.

The tax department has already issued a demand notice for around Rs.250 crores to YI for the assessment year 2011-12. Delhi High Court in March 2018 has already ordered Young Indian to deposit Rs.10 crores if they wanted to appeal against the Income Tax fine of Rs.250 crores[1].

References:

[1] NH case: Delhi HC orders Young Indian to deposit Rs.10 cr. In Income Tax recovery notice of Rs.250 croresMar 19. 2018, PGurus.com

Team PGurus

We are a team of focused individuals with expertise in at least one of the following fields viz. Journalism, Technology, Economics, Politics, Sports & Business. We are factual, accurate and unbiased.

18 COMMENTS

  1. Unless and otherwise the adjournments in cases in judicial system are reduced to one per case, we will have cases for twenty five and fifty years in the system, wherein both plaintiff and defendants will die of natural death and the judges can conveniently close the cases. In India this is the fate for many cases.

  2. Rahul sir: please pay the tax amount. We salaried class make tax payments for building the nation. Don’t hire lawyers and enrich them.

    • Who is paying for Raul Maino’s lawyers (Sibbal et al) is another scam. Typical case fees for Sibbal runs 1 crore. With the battery of lawyers representing Raul, this is probabl a 10crore defense.

      Questions are (1) Where is he getting money to pay for this (2) Is he using CON-gress money for personal defense (3) Are the attorneys giving away time for free & eating staff costs- in that case they should declare it.

  3. why team PGurus have failed to pubish my warning comments raising the problems in an election year psephologically? it spks volumes about the abilty of pgurus desk commentator management.my warnings always come true and my name in indian journalism is so glaring that I prevented sonia to come in power in98-99 single handedly when atalji lost by one vote in parliament but I supported him advised him through my columns in Veerarjun a delhi newspaper those days not to shed power but remain in7 rc irrespective of the fact that those days an offensive president of india rk naraynan did not like me and my columns and I had written against him too.

  4. the mistake which saturn -mars combination is going to cause and is going to be commited by INDIA is going to first give Rahul and her momby giving her a shock of putting them in a jail and then give this maa beta a very big publicity as was given to INDIRA Gandhi by the then govt of morarji charan singh in1979 in an election year by putting her in jail and then bringing her an 8 column first page full&free page publicity and a sympathy wave in her favor bringing her back to power in1980.the signs and symptoms have started appearing on the horizon of time because arun jaitely is going to resume FM shortly as Charan Singh was giver fm back in1979.

  5. UPA has thoughtfully created a strong impenetrable web of unethical, wrongful brigands in our Judiciary, Ministerial Secretariats, Investigation Agencies& other such constitutional Offices who are in the payroll of the UPA Mafia with assigned duties to protect the top thieves from investigations, interrogations & prosecutions

    That is the reason why none of those Top Mafia gangsters like Manmohan, Chidambaram, Ma-Beta & their ilk could be touched inspite of the fact several Mega Scams surfaced followed by sham investigations & prosecutions.

    The tragedy is this vicious web is still active & strong in all Secretariats, Investigation Agencies & are – in all probability – likely to remain strong

    If NDA returns to power with a thumping Majority in LS-2019, the Vicious Mafia Web will gradually start losing hold & we can expect the top notches to go behind bars one by one.

    If NDA returns to power with a simple, slender majority the vicious web will remain impenetrable until 2024 & the top UPA Gangsters will continue to cocking a snook at the people’s verdict

    As of now, the MA-BETAS & the BAAP-BETAS of the Congress who are out on bail will continue to play hide & seek with their moles in the Judiciary, Prosecution & the Secretariat ever willing to protect & rescue them.

    • Wish this happens–If NDA returns to power with a thumping Majority in LS-2019, the Vicious Mafia Web will gradually start losing hold & we can expect the top notches to go behind bars one by one.

  6. I am not that hopeful to see Sonia Manio and Raul Vinci behind bars. Thanks to our judiciary by the time they get convicted they would have died a natural death just like Jayalalitha

  7. Copy URL in yr cell phone enter into WhatsApp and forward to your contacts I have already done that

    I am not that hopeful to see Sonia Manio and Raul Vinci behind bars. Thanks to our judiciary by the time they get convicted they would have died a natural death just like Jayalalitha

  8. Only ‘Tribunals’ & the ‘Appellate Tribunals’ should be empowered to deal with grievances related to Tax disputes.

    As a last remedy, only the SC should be empowered to entertain appels against ‘adverse verdicts’ by the Income Tax Appellate Tribunals – provided the aggrieved party deposits 100% penalty imposed by the IT Appellate Tribunal.

  9. Great. I appreciate role of PGURU in exposing corrupt. I have shared on f.b, tweeter. Sir, can you make it on whatsapp ?

    • Copy URL in yr cell phone enter into WhatsApp and forward to your contacts I have already done that

      I am not that hopeful to see Sonia Manio and Raul Vinci behind bars. Thanks to our judiciary by the time they get convicted they would have died a natural death just like Jayalalitha

LEAVE A REPLY

Please enter your comment!
Please enter your name here