21
Friday
September 2018
1:06 PM IST
News Headlines
Kannur International Airport: Kerala to be the first state with four international airports        Kim, Moon join hands on peak of sacred North Korean volcano        Birthday boy Rashid stars in Afghanistan's 136-run win against Bangladesh        Shahbaz Nadeem claims eight wickets; breaks List A world record        CAT 2018: Registration extended to Sept 26; Admit card to Release on Oct 24        BAI distributes 1.6 crore to state Association        Rodrigues, Yadav help Indian women take 1-0 lead in T20 series        Sensex recovers over 100 points on value-buying, global cues        Deepak Kapoor Appointed the new Chairperson of Save the Children        Palestinian schools strive to modernize classrooms        Trump: Declassified Russia probe papers expose 'bad things'        2 history-sheeters arrested following encounter: Police        Attack on Cong workers in Chhattisgarh is political persecution: Rahul Gandhi        Cabinet clears ordinance to make triple talaq penal offence Law Minister        Instant Triple Talaq to be criminal offence        Viswasam- On set photos leaked        Aiswarya- Abhishek's Gulab Jamun would go on floor in mid 2019        China Open: Sindhu enters pre-quarters, Saina loses        Didn't expect Arjuna this year: Hima Das        RCom to exit telecom fully to focus on realty: Ambani        
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National News
National Herald case: HC dismisses pleas of Sonia, Rahul challenging reopening of tax assessment
 
(New Delhi, Sep 10, 2018):THE DELHI High Court Monday dismissed pleas by Congress leaders Sonia Gandhi and Rahul Gandhi against the Income Tax department’s decision to reopen their tax reassessments for the financial year 2011-2012 in connection with the National Herald newspaper case.

“The petitions have failed. The issues and submissions raised here by the petitioners can be raised in the Income Tax proceedings,” a bench of Justices S Ravindra Bhat and A K Chawla said.

Stating that the tax department has the powers to reopen proceedings, the court also rejected a similar plea by Congress leader Oscar Fernandes.

Last month, former Congress chief Sonia Gandhi had informed the High Court that the tax department had “mala fide” intention in sending the reassessment notice to Young Indian Pvt Ltd (YI) in which she and Rahul are stakeholders.

According to the tax department, Rahul Gandhi’s assessment for 2011-12 has to be reopened because he allegedly did not disclose at the time that he was a director in YI since 2010. The department claimed the shares that Rahul held in YI would lead him to have an income of Rs 154 crore and not about Rs 68 lakh, as assessed earlier.

Gandhi’s lawyers had contended that the query put to their client during assessment was whether he held interest in any company or sister concern in which he was a director. They said he had replied in the negative as YI was a Section 25 company, and that no director would have any interest in a non-profit entity.

The court had on August 16 reserved its order on the pleas of the three leaders after the tax department contended that Rahul Gandhi’s tax assessment for 2011-12 had to be reopened as material facts were concealed.

The income tax cases against the Congress leaders stem from a probe into a complaint filed by BJP MP Subramanian Swamy before a trial court. In the complaint, Swamy had alleged that the Congress leaders were involved in cheating and breach of trust in the acquisition of Associated Journals Ltd (AJL), which ran National Herald, by Young Indian Pvt Ltd, as assets worth crores of rupees had been transferred to YI.

Swamy has alleged that YI had paid just Rs 50 lakh to obtain the right to recover Rs 90.25 crore that AJL had owed to the Congress party, given earlier as a loan to start the newspaper.


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ENTERTAINMENT NEWS
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INTERNATIONAL NEWS
Kim, Moon join hands on peak of sacred North Korean volcano
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Palestinian schools strive to modernize classrooms
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KERALA NEWS
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 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i
Bar bribery case: Court dismisses the vigilance report
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
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