BJP, Congress engage in war of words over IT tribunal order on Young Indian

The Congress and the BJP on Saturday engaged in a bitter war of words after the Income Tax Tribunal rejected Congress leader Rahul Gandhi's plea to consider Young Indian (YI) as a charitable institution. Addressing a press conference here, BJP leader and Law Minister Ravi Shankar Prasad alleged that the Congress' ruling family got properties worth more than Rs 2,000 crore through YI's investment of just Rs 50 lakh in Associated Journals Limited (AJL) and dubbed it as the "family model of development".

Sonia Gandhi, Rahul Gandhi and others have been accused of paying just Rs 50 lakh through which YI obtained the ownership of the AJL, which owed Rs 90.25 crore to the Congress. Responding to the BJP's remarks, the Congress said Prime Minister Narendra Modi and "his cronies" cannot change the "inalienable truth" that YI is a not-for-profit company.

The BJP said the AJL has properties worth more than Rs 2,000 crore. "The BJP condemns this palpable dubious transaction of undue enrichment. It is corruption," Shankar said.

"There is a judicial affirmation...that family and commerce go hand in hand and you (family) invoke dubious methods for enrichment," he added. The Delhi bench of the ITAT, in an order on November 15, said YI's "entire move for acquiring the AJL (Associated Journals Ltd), which had stopped/suspended its publication activities and was holding a large number of properties worth hundreds of crores with huge rental and lease income, was for acquiring control and interest in such properties for mere sum of Rs 50 lakh".

When asked about this matter, Congress chief spokesperson Randeep Surjewala on Saturday told reporters, "What is subjudice 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."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)