National Herald case: Subramanian Swamy submits IT order against Rahul, Sonia Gandhi

BJP leader Subramanian Swamy has produced an IT order in court against the Young Indian company majorly owned by Sonai and Rahul Gandhi. The order has reportedly cancelled Young India's tax exemption certificate and asked the company to pay tax on income gain of Rs 414 crore. 

The Gandhis could be slapped with a fine of between 100-300 per cent of the concealed amount along with criminal prosecution. 

The court has ordered to keep the documents submitted by Subramanian Swamy in sealed cover until next hearing. 

The hearing is adjourned until March 17.

Subramanian Swamy had filed a complaint against Congress President Rahul Gandhi, former party president Sonia Gandhi, Congress treasurer Motilal Vora, party leaders Oscar Fernandes, Suman Dubey and Sam Pitroda in 2012.

In the complaint, he alleged that the Congress granted an interest-free loan of Rs 90.25 crore to the owner of National Herald-Associated Journal Limited (AJL). It further stated that Congress had mismanaged the loan which remained outstanding. Sonia and Rahul were made directors of the company, Young India, in 2010. The company acquired all the shareholdings of the AJL amounting to Rs 5,000 crore. 

In their response to Subramanian Swamy's complaint in connection with the National Herald case, Sonia Gandhi and Rahul Gandhi stated in November that the application filed by the BJP leader was not bonafide.

Calling the complaint a "lifeless case" they said that the application was filled with the sole object of "delaying the proceedings".

They also said that it was filed with the "most casual manner" and it failed to call witnesses and documents within a specified period of time. 

The mother-son duo called for an immediate rejection of the complaint.