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

In a super exclusive newsbreak, Republic TV has accessed the 463-page- report -the Rahul Gandhi tax file. The tax file has made a stunning revelation that the Income Tax department sent a notice to Rahul Gandhi for tax evasion in the years 2011-2012. RAHUL GANDHI HID THE FACT THAT HE WAS DIRECTOR OF 'YOUNG INDIA'? The tax file reveals that Rahul Gandhi had hidden from the Income-Tax department that he was a Director in Young India, which is the main company involved in the ‘National Herald case’. Since, Rahul Gandhi had allegedly hidden the facts from the I-T department, a whopping amount of Rs 154.97 crore couldn't be assessed by the I-T department. The tax file also reveals that along with being the Director, he was also the direct beneficiary of the funds directed at ‘Young India’. The amount of Rs 154.97 crore is said to be obtained by Rahul Gandhi by buying the shares of ‘Young India’ at a lesser price than the fair market value of the shares. Now, in 2018 when this fact surfaced, the Income-Tax department decided to go ahead and reopen the Congress President’s assessment of the Income Tax dating back to the years 2011 and 2012. RAHUL GANDHI'S REBUTTAL TO THE I-T NOTICE: Now, to block the reassessment, Rahul Gandhi challenged the notice in Delhi High Court. The Congress President has told the court that he didn’t hide the fact that he was the Director of ‘Young India’ and this is the reason why his income shouldn’t be reassessed. However, a document accessed by Republic TV, written by Rahul Gandhi himself to the I-T department, says that he is not the beneficiary of any entity. Furthermore, Rahul Gandhi had also asked for the barring of media coverage into the case. However, the Delhi High Court denied the request. Rahul Gandhi has also stated in front of the court that even if he was obligated to disclose his position, he didn’t specifically lie. The case is now listed for hearing on August 14. The Rahul Gandhi case in the Delhi High Court is about whether the Congress President is obligated to disclose his position at ‘Young India’, and he was also the beneficiary of the funds coming out of the company. I-T NOTICES ACCESSED BY REPUBLIC TV: Republic TV has now accessed series of notices sent by the I-T department to Rahul Gandhi from the year 2011 to the year 2018. The I-T notices have asked Rahul Gandhi to disclose his sources of income and also why his income shouldn’t be reassessed, considering he had hidden a crucial fact. One of the notices says, “I have reasons to believe that your income chargeable to tax of the assessment year of 2011 and 2012 has escaped assessment within the meaning of Section 147 of the Income Tax Act. I, therefore, propose to assess or reassess the income or loss for the said assessment year. I, hereby, require you to deliver to me within 30 days from the service of the notice..." HOW DID THE I-T DEPT COME TO KNOW ABOUT THE ALLEGED TAX EVASION? Back in August 7, 2012, the I-T department had sent the first notice to Rahul Gandhi asking him whether or not there were any particular entities - legal entity, that Rahul Gandhi was the direct beneficiary of. On August, 2013, after receiving three notices from the I-T department, Rahul Gandhi finally replied, and in point 3 of his response he stated that he is not the beneficiary of any legal entity. Now, on the basis of this point, the I-T department did the assessment of the income. Later, several facts in connection with the alleged evasion came to light over the years, specially during the National Herald Case when ‘Young India came to the spotlight. At this juncture, the Income-Tax department went through the files of the company and found out that Rahul Gandhi was the Director in ‘Young India’ and therefore, was indeed a direct beneficiary. I-T department then found out a tripartite agreement between the All India Congress committee, Young India and Associated Journals Ltd (AJL). Young India and Associated Journals are the companies that are right in the middle of the National Herald Case. And, AICC had given a loan of Rs 90 crore to AJL through which it had gone to Young India In March 2018, the I-T department sent another notice to Rahul Gandhi asking him to explain the hidden fact. Rahul Gandhi replied to the notice saying - 1 He hasn’t hidden any material fact 2 He would like to inspect the records on his own, before he allows for any reassessment. I-T department allowed Rahul Gandhi to inspect the records, however, he then filed a list of objections that he had against the reassessments. His objections were then rejected by the I-T department.

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

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

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