The Delhi High Court on Thursday reserved the order on Congress President Rahul Gandhi 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 S. Ravindra Bhat and Justice A.K. Chawla said they will deliver order on the plea on September 10.
The court was hearing the plea of Rahul, Sonia Gandhi and her party colleague Oscar Fernandes against March I-T notice seeking tax reassessment as they have allegedly not disclosing their income earned through Young Indian Pvt Ltd (YI) in the year 2011-2012.
Additional Solicitor General Tushar Mehta, who was representing the I-T department, has told the court that they have concealed facts for evading tax.
Mehta said the department has re-opened the tax assessment against Rahul Gandhi as he has furnished false information that he is not director of any company, including Young Indian.
Sonia Gandhi on Tuesday told the Delhi High Court that the Income Tax department had mala fide intention in sending the reassessment notice.
Rahul Gandhi and Sonia Gandhi are major stakeholders in Young Indian which has acquired Associated Journals Limited (AJL). National Herald newspaper was published by AJL.
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 Delhi High Court directed Young India to deposit Rs 10 crore in the Rs 249.15 crore income tax proceedings against the firm.
Bharatiya Janata Party leader Subramanian Swamy 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 Young Indian Pvt Ltd obtained the right to recover Rs 90.25 crore which AJL owed to the Congress.
The other accused in the case are Motilal Vora, Suman Dubey, Sam Pitroda and Young India.