In a big setback to Congress President Rahul Gandhi and his mother Sonia Gandhi Income Tax (I-T) department has slammed the mother-son duo with a tax notice of Rs 100 crore over Associated Journals Ltd (AJL)
Congress president Rahul Gandhi and his mother Sonia had ‘escaped’ incomes of Rs 300 crore in 2011-12 and their tax liability is around Rs 100 crore, according to an income tax (IT) order passed after reassessing the Congress leaders’ incomes relating to Associated Journals Ltd.
Congress President Rahul Gandhi had escaped income of Rs 155.41 crore and his mother had escaped income of Rs 154.96 crore for the same year, said the order
For the assessment year, Rahul Gandhi had filed a return of income declaring Rs 68.1 lakh while income of one of his party colleague Oscar Fernandes was Rs 48.9 crore, said I-T sources.The Supreme Court is hearing an appeal of Congress leaders against the reopening of their tax assessment. Appearing for Sonia Gandhi, P Chidambaram said a tax liability of Rs 44 crore against her had been erroneously imposed after reassessing her income. He said that assessing officers had concluded that Rs 141 crore of her income relating to AJL “escaped” as she did not declare it in filing her return.
It must be noted that the assessment order was passed on December 31 against Sonia, Rahul and Fernandes after reassessing their income for 2011-12. These were kept in abeyance as the court examines the validity of I-T department action.
Challenging reopening of the tax assessment before a bench headed by Justice A K Sikri, Chidambaram said that I-T officials’ decision defied “common sense” as they concluded that Sonia had an “escaped income” of Rs 141 crore in exchange of 1,900 shares in Non-profitable Organisation ‘Young Indian’ (YI).
The Congress leaders have said that they were under no legal obligation to share details of YI shares as those were not “interest” in a company said the report. They had claimed shareholding in YI, which is a non-profit and charitable company, cannot result in any interest that needs disclosure as the shareholder does not receive dividends or interest in the property of such a company.
Chidambaram contended that the only asset of the company was the debt of Rs 90 crore but the I-T department erroneously fixed that as Rs 407 crore.
The family which has looted the nation since long is in such a condition that from every side they are being slapped. Continuous action is being taken against their wrongdoings. The system is catching up with them. They have been dragged to the court. They have been asked to appear personally for court hearings. They are on bail. And all this is happening because of the power of your one vote which you have excised wisely by choosing the visionary leader Narendra Modi as the Prime Minister of the Nation.Do this in 2019 also and bring the fake Gandhi’s at Ground.