The Delhi High Court today declined to stay the income tax proceedings against Young India Ltd in the National Herald case, which involves Congress leaders Sonia Gandhi and Rahul Gandhi.
A bench of Justices S Muralidhar and Chander Shekhar asked the company to approach the Income Tax assessing officer, after which the firm withdrew its petition.
Young India had approached the high court seeking a direction to stay the income tax proceedings and quashing of notices against it with regard to the misappropriation of assets case. The company was issued notices regarding the assessment year 2011-12.
Earlier, a trial court had allowed an investigation in the case, which was challenged at Delhi High Court.
The case pertains to a private criminal complaint by BJP leader Subramanian Swamy, who has accused the Gandhis and others of conspiring to cheat and misappropriate funds by paying just 50 lakh rupees through which Young Indian Pvt Ltd obtained the right to recover 90.25 crore rupees which Associate Journals Limited owed to the Congress.
The Gandhis and other accused – Motilal Vora, Oscar Fernandes, Suman Dubey and Sam Pitroda – have denied the allegations levelled against them.
