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Supreme Court Allows I-T Department To Reopen Tax Case Linked To Rahul, Sonia Gandhi & Oscar Fernandes

PRERNA YADAV | 0
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| December 4 , 2018 , 16:17 IST

Supreme Court allowed Income Tax department to continue with the tax re-assessment for the year 2011-12 of Congress President Rahul Gandhi, Sonia Gandhi and Congress leader Oscar Fernandes on Tuesday.

In an “innocuous” order, Supreme Court said the assessment order of the IT Department will come into effect only after the Supreme Court hearing on Jan 8, 2019.

The order was passed by the Bench of Justices AK Sikri, Ashok Bhushan and S Abdul Nazeer.

The matter relates to the reassessment of the Income Tax returns of the Gandhis and Fernandes in relation to the National Herald transaction.

According to media reports, the tax matter is pertained to the National Herald case. The IT Department had issued a notice to Rahul Gandhi on March 31, 2018, for allegedly concealing information on his status as a Director of Young Indian Pvt Ltd. Gandhi’s shares in Young Indian allegedly resulted in an income of Rs. 154 crore, as opposed to the earlier assessed income of Rs. 68 lakh.

A similar notice was issued to Sonia Gandhi and Fernandes on the same day for allegedly not disclosing income arising out of their status as shareholders in Young Indian for the AY 2011-2012.

Solicitor General Tushar Mehta, appearing for the I-T department, said the court should not restrain it from implementing the assessment orders against the Gandhis and others.

Senior advocates Kapil Sibal, P Chidambaram and Arvind Datar have been appearing for the Congress leaders.

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