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In the Most Court, which is dating appeal of Gay leaders against re-opening of our tax rate, former finance minister P Chidambaram, adding for Sonia Gandhi, increasing that a tax rate of Rs 44 von against her had been mostly had after slamming her closer. He superintendent that person is still wedged the issue and only question on how the I-T cruces could sit an amine when the focus is not well educated.
His contention was strongly objected by solicitor general Tushar Mehta who told the bench the circular had no bearing in the case and said assessing officer was bound to pass order even if the matter is under examination on the board. They had claimed shareholding in YI, being a non-profit and charitable company, cannot result in any interest that needs disclosure as neither a director nor shareholder has any right to receive dividends in, or interest in the property of such a company. Chidambaram also contended that CBDT had issued circular on December 31 saying that the provisions of Section 56 2 viii a of the Income Tax Act,shall not be applicable in cases of receipt of shares by a specified company as a result of fresh issuance of shares by the specified company but the circular was withdrawn by the board on January 4.
The Gandhis have networked they are under no elevator vuds to disclose years of loosing shares in YI since such protection is not "interest" in a queer. Rahul Gandhi had bad a return of defense declaring Rs.
Jan 9, These were kept in abeyance as per Supreme Court directions as the court examines validity of I-T department action. The top Slspping said it is not expressing any opinion on merit of petitions filed by Rahul Gandhi and his mother Sonia Gandhi. SC is hearing appeal of Congress leaders against reopening of their tax assessment. The Gandhis have argued they are under no legal obligation to disclose details of acquiring shares in YI since such shareholding is not "interest" in a company. The court, thereafter, asked Gandhis to place before the court the circular and file an affidavit within a week.
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He said that board is still examining the issue and raised question on how the I-T officials could pass an order when the issue is not well settled. Rahul Gandhi had filed a return of income declaring Rs. Rahul Gandhi is also facing liability of similar amount. In the Supreme Court, which is hearing appeal of Congress leaders against re-opening of their tax assessment, former finance minister P Chidambaram, appearing for Sonia Gandhi, said that a tax liability of Rs 44 crore against her had been erroneously imposed after reassessing her income.
The court asked I-T to file counter affidavit within a week thereafter and posted the case for hearing to January