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National Herald case: Supreme Court allows Sonia, Rahul’s tax reassessment of 2011-12

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[vc_row][vc_column][vc_column_text]The Supreme Court today (Tuesday, Dec 4) gave the go-ahead to Income Tax (IT) department for the tax reassessment of Congress President Rahul Gandhi and his mother and UPA chairperson Sonia Gandhi for the year 2011-12 in a case related to the National Herald newspaper.

However, the Supreme Court bench headed by Justice AK Sikri restrained the department from implementing it during the pendency of their plea in the apex court. It ordered that the I-T team can take up reassessment only after the court hears Gandhis’ petition against the Delhi High Court judgment that had allowed the tax probe.

The court also said it is not expressing any opinion on the merits of pleas filed by the Gandhis. The next hearing in the matter is on January 8, 2018.

Rahul Gandhi, Sonia Gandhi and Congress leader Oscar Fernandes had petitioned against the reopening of their tax assessments related to Associated Journals Ltd (AJL), the publisher of National Herald newspaper.

The Delhi High Court had last month dismissed their petitions, clearing the way for the IT department to scrutinise records for the year 2011-12. The IT department has accused the Congress leaders of having “devised the scheme involving pre-ordinate artificial and fraudulent steps to take over AJL”.

The IT probe against the Congress leaders stems from an investigation into a complaint filed by BJP leader Subramanian Swamy before a court in connection with the National Herald case.

Solicitor General Tushar Mehta, appearing for the IT department, said the court should not restrain it from implementing the assessment orders against the Gandhis and others. He said the court should hear the matter and pass appropriate orders.

Swamy had alleged that Young Indian Pvt Ltd (YIL), which had Sonia and Rahul on its board of directors, had “taken over” the assets of the defunct print media outlet in a “malicious” manner to gain profit and assets worth over Rs 2,000 crore, said a report in The Indian Express (IE).

Apart from the Gandhis, Congress leader Motilal Vora, Oscar Fernandes, journalist Suman Dubey and technocrat Sam Pitroda were also named in the case.

All the accused have denied the allegations levelled against them in the case. On December 19, 2015, court granted bail to Sonia and Rahul Gandhi, Vora, Fernandes and Dubey, who had appeared before it pursuant to summonses. Pitroda was also granted bail on February 20, 2016 when he had appeared in the court.

In the earlier hearing, a bench Justices A K Sikri and S A Nazeer observed that the matter needs “consideration”. The court said it was only concerned with the notice for reassessment, and the rest of the matter could be raised before the assessing officer. “Since respondent (Income Tax department) has put in appearance, we are not issuing a formal notice. However, we are fixing the matter for final arguments on December 4,” the bench said.

The court said it was willing to give two options to the department – either issue a notice and in the meanwhile, an assessing officer can go ahead but the final order will not be given effect, or to hear the matter and decide finally.[/vc_column_text][/vc_column][/vc_row]

India News

Congress says Modi govt gave headline without deadline on caste census

Gandhi credited the Congress’s persistent campaign for pressuring the government, saying, “Our push for a caste census has clearly worked.”

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The Congress sharply criticized the government on Thursday, May 1, following its announcement to include caste enumeration in the upcoming census, accusing Prime Minister Narendra Modi of making grand promises without clear timelines.

Congress general secretary for communications Jairam Ramesh, speaking at the party’s headquarters in New Delhi, questioned the government’s sincerity and demanded an immediate roadmap for the census, emphasizing the need for transparency and urgency.

Ramesh took a dig at Modi, calling him a “master of crafting headlines without deadlines.” He reiterated the Congress’s long-standing demand for a constitutional amendment to lift the 50% reservation cap, arguing that a caste census would only be meaningful if this barrier is removed.

“What’s stopping the Modi government from abolishing the cap?” he asked, challenging the administration’s commitment to social justice.

Highlighting past delays, Ramesh recalled a December 2019 Cabinet press release approving the 2021 census with a budget of ₹8,254 crore, which made no mention of caste enumeration. “Six years later, the census remains undone.

The government now makes this sudden announcement, but what’s the plan?” he questioned. He pointed out the meager ₹575 crore allocated to the census commissioner’s office in the 2025-26 Budget, casting doubt on the feasibility of conducting a comprehensive census. “Is this just another headline, or is there a genuine intent? The public deserves answers,” he said.

Ramesh dismissed the government’s COVID-19 excuse for delaying the census, noting that over 50 countries conducted theirs during the pandemic. “There was no pandemic in 2023 or 2024, yet the census wasn’t held,” he said.

He also referenced Modi’s 2024 remarks labeling caste census advocates as “urban naxals,” sarcastically asking, “Since when did the PM and Home Minister Amit Shah become urban naxals?”

Leader of Opposition Rahul Gandhi welcomed the government’s “abrupt” decision to include caste enumeration, a first since Independence, but demanded a specific timeline, suspecting delays akin to the women’s reservation bill.

Gandhi credited the Congress’s persistent campaign for pressuring the government, saying, “Our push for a caste census has clearly worked.”

The announcement, made by Union Minister Ashwini Vaishnaw after a Cabinet Committee on Political Affairs meeting, acknowledged state-led caste surveys in Bihar, Telangana, and Karnataka but criticized their lack of transparency.

The opposition, particularly the Congress, has made the caste census a key electoral issue, arguing it’s essential for equitable policy-making.

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PM Modi extends wishes to Maharashtra and Gujarat on Statehood Day, highlights their rich legacies

PM Modi and Vice President Dhankhar extended warm wishes to Maharashtra and Gujarat on their state formation day, acknowledging their vital role in India’s development.

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On the occasion of the State Formation Day of Maharashtra and Gujarat, Prime Minister Narendra Modi and Vice President Jagdeep Dhankhar conveyed heartfelt greetings to the citizens of the two states. The leaders lauded the states for their significant contributions to India’s development and for preserving their unique cultural heritage.

Maharashtra and Gujarat, both carved out of the former Bombay state in 1960, are now among the country’s most industrially advanced and prosperous regions.

Maharashtra praised for resilience and heritage

In a social media post, Prime Minister Modi reflected on Maharashtra’s enduring contribution to India’s progress. “Maharashtra has always played a vital role in India’s development,” he said. He added that the state’s glorious past and the bravery of its people are a source of pride and inspiration.

Modi described Maharashtra as a pillar of national progress that remains firmly rooted in its cultural traditions. “My best wishes for the state’s progress,” he added, affirming his hopes for continued growth and development.

Vice President Jagdeep Dhankhar also recognized Maharashtra’s legacy of social reform, cultural richness, and economic influence, calling it a symbol of national pride.

Gujarat hailed for innovation and enterprise

Extending greetings to his home state, Prime Minister Modi praised Gujarat’s dynamism and spirit of enterprise. He emphasized the state’s achievements across diverse sectors and its growing reputation for innovation. “The people of Gujarat have excelled in various fields. May the state keep attaining new heights of progress,” he noted.

The vice president echoed similar sentiments, highlighting Gujarat’s association with national icons like Mahatma Gandhi and Sardar Vallabhbhai Patel. He noted that the state’s tradition of leadership and resilience continues to shape the nation’s path forward.

As both Maharashtra and Gujarat observe their 64th Foundation Day, the leaders’ messages serve as a reminder of the states’ enduring impact on India’s political, social, and economic landscape.

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Gold sales shine bright on Akshaya Tritiya despite soaring prices

Akshaya Tritiya 2025 saw a significant jump in gold and silver sales, with festive sentiment overpowering price concerns as India’s jewellery market adapts to changing consumer behaviour.

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Gold price

Gold and silver purchases witnessed a vibrant start across India on the occasion of Akshaya Tritiya, with festive enthusiasm overcoming the deterrent of high prices. The All India Gem and Jewellery Domestic Council (GJC) has projected a 35% rise in value terms for gold sales compared to last year, even though prices are significantly higher.

Regional footfall and demand trends

Retail activity gained early momentum in southern states, as consumers flocked to jewellery stores in the first half of the day. In contrast, northern regions and Maharashtra are expected to see increased activity later, as extreme heat delayed consumer turnout during morning hours.

Gold prices hovered between ₹99,500 and ₹99,900 per 10 grams in various regions — a sharp 37.6% jump from the previous year’s Akshaya Tritiya rate of ₹72,300. Despite the surge, shoppers re-entered the market, reassured by recent price stabilization.

Changing buyer profiles and strategies

GJC Chairman Rajesh Rokde noted that the tradition of buying gold on Akshaya Tritiya, once dominant in the south, is now gaining traction nationwide. “Even younger consumers aged 25 to 40 are actively buying gold and silver,” he said, emphasizing a growing trend among millennial buyers.

Consumers are purchasing a mix of jewellery, coins, and bullion based on their budget and need. A significant portion of buyers are managing high prices through old gold exchanges — accounting for nearly 50% of all transactions, according to PNG Jewellers Chairman Saurabh Gadgil.

“Volume growth may be marginally down by 8–9%, but in value terms, we’re seeing an increase of 20–25%,” Gadgil explained, underlining the resilience of the jewellery market.

Market adapts with innovation

Studded jewellery is reportedly gaining popularity, especially in urban centers, while lab-grown diamonds are carving a niche among new-age buyers, according to industry executives from GSI India and Aukera.

The All India Jewellers and Goldsmith Federation estimated around 12 tonnes of gold sales, worth approximately ₹12,000 crore, and 400 tonnes of silver, valued at ₹4,000 crore — totalling a massive ₹16,000 crore in expected festive turnover.

Long-term demand remains robust

Despite frequent price hikes over the past three years, India’s gold appetite has remained steady. The country continues to import between 700 and 800 tonnes annually, underscoring its status as the world’s largest gold consumer.

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