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SC to hear Sonia, Rahul’s plea in tax case (Lead)
New Delhi, Nov 13 (IANS) The Supreme Court on Tuesday agreed to hear appeals by Sonia Gandhi and Rahul Gandhi along with party leader Oscar Fernandes challenging a Delhi High Court order directing re-opening of their income tax assessment for 2011-12 related to the National Herald case.
A bench of Justice A.K. Sikri and Justice Abdul Nazeer fixed December 4 as the final date of hearing.
Justice Sikri said there were two options: issue notice and allow the assessing officer to proceed with the re-opening or fix the matter after some weeks and decide it.
The court did not formally issue notice to the income tax authorities as Solicitor General Tushar Mehta said he was present in court.
Senior counsel P. Chidambaram, appearing for Sonia Gandhi, said during the pendency of matter, the re-assessment ordered by the Delhi High Court would not be given effect to.
To which, Justice Sikri said: “Now it will not.”
The Solicitor General said: “There is a difficulty, it may be time barred.”
Justice Sikri said in that case, the apex court stays the High Court judgement and that would take care of issue of the time bar. However, no stay order was passed by the court.
Though there is no formal stay of re-assessment by the tax authorities, Solicitor General Mehta said the assessing officer may or may not proceed in terms of the High Court order.
Chidambaram told the court that Young India acquired the shares of Associated Journals Limited (AJL) which was running into losses so there was no question of Sonia Gandhi, Rahul Gandhi and others having shares in Young India (YI) making any profit.
AJL runs newspaper National Herald that was founded by first Prime Minister Jawaharlal Nehru during freedom struggle.
He said both AJL and YI are registered under Section 25 of the Companies Act and so what gets transferred is only the assets of AJL to YI and the same can’t be monetised. Thus there was question of anyone making monitory gains, he said.
Questioning the issuance of re-assessment notice under Section 148 of the Income Tax Act, Chidambaram said in the instant case, Section 148 is not attracted as it does not apply at all.
Under Section 148 of the Income Tax Act, tax authorities can issue notice for the assessment of income that might have escaped assessment at the relevant time.
The Companies Act says that the companies registered under Section 25 have to ensure that their profits and other incomes are utilized for the sole purpose of promoting its objects — commerce, art, science, religion, charity or any other useful object.
It further says that it has to ensure that its profits are not being distributed for the payment of the dividend to its members and it should apply its profits or other incomes only in promoting its objects.
The law says that companies registered under Section 25 of the Companies Act are non-profit organisations.
The three Congress leaders have moved the top court challenging the September 10 Delhi High Court order by which it had dismissed their plea challenging the Income Tax notice seeking tax reassessment for the financial year 2011-2012.
Rahul, Sonia Gandhi and Oscar Fernandes had moved the High Court against Income Tax notice for tax reassessment as they had allegedly not disclosed their income earned through Young Indian Pvt Ltd (YI) for the year 2011-2012.
–IANS
pk/prs
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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