Above: Congress President Rahul Gandhi with ex-President Sonia Gandhi addressing the media. Photo: UNI
The Delhi High Court on Monday (March 19) directed the Young Indian Pvt. Ltd, majorly owned by Congress President Rahul Gandhi and his mother Sonia Gandhi, to deposit Rs 10 crores in the Rs 249.15 crores income tax proceedings against it.
The bench of Justices Ravindra Bhatt and AK Chawla directed the company to pay the amount in two instalments—half of it before March 31 and the rest by April 15. The notice for demand of tax was issued under Section 156 of the IT Act for the assessment year 2011-12. The court has also asked the IT department not to enforce the demand of Rs 249.15 crore, post depositing of the amount.
The company had moved high court on March 14 seeking a stay on the tax proceedings against them by the Income Tax department. The company had also contended that it has no money and will try to raise funds from the market. The court had asked the company to deposit some portion of the total tax due before its appeal was heard by the IT authorities.
The Young Indian, founded in November 2010 had taken over most of the shareholding of the owner of the Associated Journal Ltd (AJL) which owns the National Herald newspaper. It is alleged that the Gandhis had misappropriated AJL’s assets while transferring their shares to the Young Indian and were summoned earlier by a trial court in the case.
In the previous hearing of the case, BJP leader Subramaniam Swamy had produced an income tax order against the company. The court then had ordered to keep the documents in sealed cover till any further orders.
The matter has been listed for April 24.
—India Legal Bureau