Tax Probe Against Gandhis: Will A Court Appearance Be Next?

Tax Probe Against Gandhis: Will A Court Appearance Be Next?

Congress president Sonia Gandhi and her son vice-president Rahul Gandhi suffered a setback after the Delhi High Court declined to stay I-T proceedings against Young India Ltd in the National Herald allowing income tax probe to go ahead. The Gandhis are directors in the company. "It is better you withdraw it and approach the income-tax assessing officer", a bench of Justices S. Muralidhar and Chander Shekhar said.

The court was of the view that the company has not approached the assessing officer for its grievances, and it should first approach the IT Department and in case the YI was still not satisfied, it can move the court thereafter.

Firstly, the case was opened for investigation by Delhi's Patiala House Court which had been challenged in the Delhi High court.

Young Indian (YI), which was incorporated in November 2010 with a capital of Rs 50 lakh, had acquired almost all the shareholding of the Associated Journal Ltd (AJL), which is the owner of the National Herald newspaper.

"We are not inclined to entertain your writ petition". It was this matter that the high court decided on on Friday.

The plea had sought quashing of two Income Tax notices sent to YI in January and March with regard to the assessment year 2011-12. In the main matter, I said, that by fraud, cheating, conspiracy, breach of trust, they acquired this National Herald's company Associated Journals Limited.

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In his complaint, Swamy had alleged that the Congress granted an interest-free loan of Rs. 90.25 crore to the Associated Journals Pvt. Court recorded my statement and gave me liberty in the judicial order that all points raised by me can be raised in the I-T department, including the jurisdictional point. The AJL used to publish the National Herald newspaper. On 19 December, 2015, it had granted bail to Sonia Gandhi, Rahul Gandhi, Vora, Fernandes and Dubey, who had appeared before it pursuant to summons. The trial court had summoned them as accused persons, besides Young India on June 26, 2014.

The High Court on December 7, 2015 had dismissed the plea of the Gandhis to quash the summons issued by the trial court on Swamy's complaint and asked them to appear before the trial court.

As per documents, Sonia and Rahul have individual shareholdings of 38 percent each in the company while Vora and Fernandes hold the remaining 24 percent in equal parts.

Swamy alleges that YIL had taken over the assets of the defunct AJL in a "malicious" manner to gain profit and assets worth over Rs2,000 crore.

The Congress leaders have been accused of cheating and misappropriation of funds.

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