Even as the Delhi High Court on Monday dismissed Rahul Gandhi’s plea on tax reassessment, putting the Congress President’s income under I-T department scanner, Republic TV has accessed more details of the alleged tax fraud. Republic TV has accessed the I-T notice to Rahul Gandhi from 2017 and also two balance sheets which show how Rahul Gandhi’s firm misused funds and diverted loan money.
The balance sheet of Young India from the year 2011, shows the motto of Young India, which it says has been formed for youth commitment for the idea of democratic and secular society and for that Rs 50 lakhs had been kept aside. Now, the I-T department is calling it a sham transaction, claiming the newly incorporated company in fact had no assets of its own. The I-T department claims that the real purpose of the Rs 50 lakh loan was only to transfer the immovable properties of AJL to Young India,along with the full right of rental income and business income through real estate properties
The I-T return of 2011 and 2012 of Young India has also been accessed by Republic TV which shows the amount required for charitable and religious purposes in India as Rs 51 lakhs. However, in reality Young india paid the sum to take over AJL and that it was not purchased for any charitable purpose but only for the purpose of using its immovable property, getting rental income from those properties and making money out of it.
Earlier in the day, the Delhi High Court rejected Congress President Rahul Gandhi and UPA Chairperson Sonia Gandhi's plea challenging the Income Tax notice seeking tax reassessment for the financial year 2011-2012, in connection with the National Herald Case. The petition regarding the same, filed by senior Congress leader Oscar Fernandes, has also been rejected by the court.
The Delhi High Court while rejecting the petitions, said the Income Tax department has powers to reopen tax proceedings and that the petitioners can approach income tax department with their grievances.