Sonia, Rahul’s petitions on I-T assessment on Dec 4

Tribune News Service

New Delhi, November 13

The Supreme Court on Tuesday decided to take up on December 4 the petitions filed by Congress leaders Sonia Gandhi, Rahul Gandhi and Oscar Fernandes challenging a Delhi High Court order on re-opening their income tax assessments for 2011-12.

“Since respondent (I-T Department) has put in appearance, we are not issuing a formal notice. However, we are fixing the matter for final arguments on December 4,” said a Bench of Justice AK Sikri and Justice SA Abdul Nazeer. The order came after brief arguments by senior advocates P Chidambaram, Kapil Sibal and Arvind Datar on behalf of the Gandhis and Fernandes. The Income Tax Department was represented by Solicitor General Tushar Mehta.

However, the Bench has not stayed the income tax assessment proceedings against Gandhis and Fernandes who have challenged the September 10 verdict of the Delhi High Court.

The I-T Department had filed a caveat in the SC to pre-empt an ex-parte order, requesting that it should be heard in case any appeal is filed against the high court order. The case relates to reassessment of the income-tax returns of the Congress leaders with regard to the National Herald transaction. The controversy relates to assignment of a Rs 90-crore loan advanced by the Congress to Associated Journal Ltd, which owned National Herald, to Young Indian for a consideration of Rs 50 lakh. The debt (of Rs 90 crore) was later converted into equity.