EXPLOSIVE | I-T department accuses Rahul Gandhi of concealing income. Full details here

In a super exclusive newsbreak, Republic TV has accessed 463-page- report - Rahul Gandhi tax file. tax file has me a stunning revelation that Income Tax department sent a notice to Rahul Gandhi for tax evasion in years 2011-2012.

RAHUL GANDHI HID  FACT THAT HE WAS DIRECTOR OF 'YOUNG INDIA'?

tax file reveals that Rahul Gandhi h hidden from Income-Tax department that he was a Director in Young India, which is main company involved in ‘National Herald case’.  Since, Rahul Gandhi h allegedly hidden facts from I-T department, a whopping amount of Rs 154.97 crore couldn't be assessed by I-T department. tax file also reveals that along with being Director, he was also direct beneficiary of funds directed at ‘Young India’.

amount of Rs 154.97 crore is said to be obtained by Rahul Gandhi by buying shares of ‘Young India’ at a lesser price than fair market value of shares.

Now, in 2018 when this fact surfaced, Income-Tax department decided to go ahe and reopen Congress President’s assessment of Income Tax dating back to years 2011 and 2012.

RAHUL GANDHI'S REBUTTAL TO  I-T NOTICE:

Now, to block reassessment, Rahul Gandhi challenged notice in Delhi High Court. Congress President has told court that he didn’t hide fact that he was Director of ‘Young India’ and this is reason why his income shouldn’t be reassessed.

However, a document accessed by Republic TV, written by Rahul Gandhi himself to I-T department, says that he is not beneficiary of any entity.

Furrmore, Rahul Gandhi h also asked for barring of media coverage into case. However, Delhi High Court denied request. Rahul Gandhi has also stated in front of court that even if he was obligated to disclose his position, he didn’t specifically lie. case is now listed for hearing on August 14.

Rahul Gandhi case in Delhi High Court is about wher Congress President is obligated to disclose his position at ‘Young India’, and he was also   beneficiary of funds coming out of company.

I-T NOTICES ACCESSED BY REPUBLIC TV:

Republic TV has now accessed series of notices sent by I-T department to Rahul Gandhi from year 2011 to year 2018. I-T notices have asked Rahul Gandhi to disclose his sources of income and also why his income shouldn’t be reassessed, considering he h hidden a crucial fact.

One of notices says, “I have reasons to believe that your income chargeable to tax of assessment year of 2011 and 2012 has escaped assessment within meaning of Section 147 of Income Tax Act. I, refore, propose to assess or reassess income or loss for said assessment year. I, hereby, require you to deliver to me within 30 days from service of notice..."

HOW DID I-T DEPT COME TO KNOW ABOUT ALLEGED TAX EVASION?

Back in August 7, 2012, I-T department h sent first notice to Rahul Gandhi asking him wher or not re were any particular entities - legal entity, that Rahul Gandhi was direct beneficiary of. On August, 2013, after receiving three notices from I-T department, Rahul Gandhi finally replied, and in point 3 of his response he stated that he is not beneficiary of any legal entity. Now, on basis of this point, I-T department did assessment of income.

Later, several facts in connection with alleged evasion came to light over years, specially during National Herald Case when ‘Young India came to spotlight. At this juncture, Income-Tax department went through files of company and found out that Rahul Gandhi was Director in ‘Young India’ and refore, was indeed a direct beneficiary. I-T department n found out a tripartite agreement between All India Congress committee, Young India and Associated Journals Ltd (AJL).

Young India and Associated Journals are companies that are right in middle of National Herald Case. And, AICC h given a loan of Rs 90 crore to AJL through which it h gone to Young India

In March 2018, I-T department sent anor notice to Rahul Gandhi asking him to explain hidden fact. Rahul Gandhi replied to notice saying -

1 He hasn’t hidden any material fact

2 He would like to inspect records on his own, before he allows for any reassessment.

I-T department allowed Rahul Gandhi to inspect records, however, he n filed a list of objections that he h against reassessments. His objections were n rejected by I-T department.