National Herald tax case : High court asks Young Indian Pvt Ltd to deposit Rs 10 crore
The Delhi high court directed Young Indian Pvt Ltd (YI), whose major stakeholders are Congress president Rahul Gandhi and his mother, Sonia Gandhi, on Monday to deposit Rs 10 crore in the over Rs 249 crore income tax proceedings against the firm.
A bench of Justices S Ravindra Bhat and A K Chawla said the company can deposit half the amount with the I-T department before March 31 and the remainder by April 15, adding that if the money is deposited the tax wing won’t enforce its demand of over Rs 249 crore as long as the plea is pending.
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The HC listed the matter for April 24 for further hearing and sought a response from the I-T department which has demanded Rs 249 crore for the assessment year 2011-12.
The firm Young Indian is accused, along with Sonia Gandhi and Rahul Gandhi, in the National Herald alleged misappropriation of assets case.
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