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National Herald case: Setback for Sonia, Rahul Gandhi

In a major setback for Congress President Rahul Gandhi and his mother Sonia Gandhi, Delhi High Court on Monday rejected their petitions, challenging reopening of their tax assessments for 2011-12.

A bench of Justice S. Ravindra Bhat and Justice AK Chawla also rejected a similar petition of Congress leader Oscar Fernandes.

Rahul had challenged an Income Tax Department notice regarding the reopening and re-assessment of transactions between National Herald and Young India Private Limited in 2011-12.

The BJP slammed Congress and said it was a big win in the fight against corruption.

The income tax cases have arisen from a probe into a criminal complaint filed by BJP leader Subramanian Swamy in the National Herald case. Sonia, Rahul Gandhi and others have been accused of conspiring to cheat and misappropriate funds by paying 50 lakh rupees, through which Young India obtained right to recover 90.25 crore rupees from Associated Journals Ltd. Young India was incorporated in November 2010 with a capital of Rs 50 lakh. It acquired almost all shares of AJL, which runs National Herald newspaper, and also acquired AJL’s debt of Rs 90 crore.

The tax department re-assessed Rahul Gandhi’s shares in young India would give an income of Rs 154 crore and not about Rs 68 lakh that was assessed earlier.

It has already issued a demand notice of Rs 249.15 crore to Young India for the assessment year 2011-12.

The case is currently in Court, and the matter is being probed based on Subramanian Swamy’s petition.
 

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