Politics

EXCLUSIVE: Robert Vadra And Sky Light Hospitality To Not Pay Rs 25.8 Crore Tax On Undisclosed Income? Details Here

Written By Ankit Prasad | Mumbai | Published:

Hack:

  • Robert Vadra and Sky Light Hospitality have decided to not pay Rs 25.8 crore tax on alleged undisclosed income as ordered to by the I-T Department
  • They have appealed to the Commissioner of Income Tax, as per sources, and may head to the Income Tax Appellate Tribunal (ITAT) if the appeal is dismissed.

In a sensational development, top I-T department sources have said to Republic TV that Robert Vadra has decided to not pay Rs 25.8 crore in tax as his company has been ordered to on its almost Rs 43 crore alleged undisclosed income from the assessment year 2010-11.

As per sources, Vadra and his firm Sky Light Hospitality have made an appeal before the Commissioner of Income Tax (CIT) in the matter. If the CIT dismisses the appeal, the matter may be taken to the Income Tax Appellate Tribunal (ITAT). However, it will fall upon Rahul Gandhi's brother-in-law or his company Sky Light Hospitality to submit fresh evidence to prove that Income Tax Department's calculations wrong.

In the 25-page I-T Department report, a re-assessment of the 2010-11 income of the Robert Vadra-linked Sky Light Hospitality has been conducted revealing that far from Rs 37 lakh, the actual income of the company for that year was allegedly almost Rs 43 crore. Accordingly, Sky Light has been ordered to pay Rs 25.8 crore in taxes. This means that as per the I-T Department, the company declared only about 0.86% of its income for the year. Earlier petitions by the company against an I-T notice to re-assess its income were dismissed by the Delhi High Court and Supreme Court respectively. The tax must be paid within 30 days of the notice being served, it states.

The I-T Department went into great detail over a Rs 58 crore land deal between Sky Light Hospitality and real-estate major DLF, and also raised questions about alleged unexplainable sources of income.

READ | Key Takeaways From The Vadra Papers, As IT Department Orders His Company To Pay Rs 25 Crore Tax As Undisclosed Income

Even as the report detailed for the first time the tax evasion angle to Robert Vadra's business and raised questions over how the alleged evasion was overlooked by the Manmohan Singh-led UPA government, the Congress party distanced itself from Vadra, with the party's media in-charge, Randeep Surjewala asking for all questions on the matter to be addressed to Vadra's lawyers.

It is also the first concrete action that the present Narendra Modi-led government has taken against Robert Vadra’s business dealings and is likely to have massive political ramifications ahead of the 2019 Lok Sabha elections.

READ | Here's Why The Details In The Vadra Papers Are Unprecedented

 

Follow all the breaking news and headlines on Elections 2019. From major political events to the upcoming Lok Sabha Elections, Republic World brings you all the latest news from the world of politics. Tune in and catch the election updates live only on Republic World.
Trending in Politics - Narendra Modi, Rahul Gandhi, Amit Shah, Yogi Adityanath

DO NOT MISS