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PM Modi, 'His Cronies' Cannot Change Truth that Young Indian is Not-for-profit Company: Congress

Sonia Gandhi, Rahul Gandhi and others have been accused of paying just Rs 50 lakh through which YI obtained the ownership of the Associated Journals Limited (AJL), which owed Rs 90.25 crore to the Congress.

PTI

Updated:November 16, 2019, 10:44 PM IST
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PM Modi, 'His Cronies' Cannot Change Truth that Young Indian is Not-for-profit Company: Congress
Representative image.

New Delhi: After the Income Tax Appellate Tribunal (ITAT) rejected Rahul Gandhi's plea to consider Young Indian (YI) as a charitable institution, the Congress said Saturday Prime Minister Narendra Modi and "his cronies" can not change the "inalienable truth" that YI is a not-for-profit company.

Sonia Gandhi, Rahul Gandhi and others have been accused of paying just Rs 50 lakh through which YI obtained the ownership of the Associated Journals Limited (AJL), which owed Rs 90.25 crore to the Congress party.

Earlier in the day, the ITAT ruled that the withdrawal of income tax exemption to Young Indian by the tax department is correct and it cannot be called a charitable organisation. An appeal to restore the withdrawal of exemption from income tax was made by Young Indian before the ITAT.

The BJP said AJL has properties worth more than Rs 2,000 crore. In July last year, the Income Tax department asked the YI to pay tax of around Rs 145 crore.

Congress chief spokesperson Randeep Surjewala told reporters, "What is sub-judice need not be commented upon. It may look like a setback for certain news channels, to certain news channels, but, I can assure you, the majesty of law will prevail and the truth out in the open is that Young Indian is a not-for-profit company and neither Mr Modi nor his cronies can change this inalienable truth."

At a press conference later, BJP leader and Law Minister Ravi Shankar Prasad alleged that the Congress's ruling family amassed properties worth more than Rs 2,000 crore through investment of just Rs 50 lakh in AJL and dubbed it the "family model of development".

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