National Herald Case: Sonia Gandhi, Son Rahul To Be Investigated By Tax Officials, Says High Court - watsupptoday.com
National Herald Case: Sonia Gandhi, Son Rahul To Be Investigated By Tax Officials, Says High Court
Posted 12 May 2017 03:30 PM

Agencies

Young Indian Private Ltd, a company which has Congress bosses Sonia and Rahul Gandhi as its main stakeholders, will be investigated by income tax officials, the Delhi High Court ruled today.

While Sambit Patra of the ruling BJP described it as a "major setback" for the Congress, the opposition party claimed it was not a setback for the party and its leaders as the court has allowed the company to raise objections before the income tax assessing officer.

"We will now go back to the assessing officer and can raise objections, including challenging the move to re-open income tax investigation as the I-T department doesn't have enough evidence to probe Young Indian," said senior lawyer and Congress leader Abhishek Manu Singhvi.

At the heart of the court case is Associated Journals Limited, publisher of three newspapers, including the National Herald, an English daily founded and edited by Jawaharlal Nehru before he became India's first prime minister.

In 2008, the company shut down with an alleged unpaid debt of about $ 15 million.

BJP leader Subramanian Swamy has accused Rahul Gandhi, PM Nehru's great-grandson, and Mrs Gandhi, of setting up Young Indian Company to buy the debt using Congress party funds even though Associated Journals allegedly had real estate assets worth at least $335 million, which would have cleared the debt.

Mr Swamy alleged that the Young Indian Company then owned all of the equity in Associated Journals and rented out its properties to profit its shareholders, including Rahul and Sonia Gandhi, who together controlled 76 per cent.

The Gandhis in January 2016 won an appeal to be exempted from personal appearances in court to answer allegations that they used their leadership of the Congress to misuse about $15 million of party funds for personal profit.

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