Reopening cases of Rahul & Sonia Gandhi valid; they failed to disclose shares allotted in excess of FMV: HC

IT : Where Congress Party advanced money to National Herald to write off accumulated debts and recommence newspaper and non-profit company Young India was incorporated to whom said loan was assigned and subsequently Gandhis were allotted shares of Young India, but in Income-tax returns, assesses had nowhere recorded primary fact in respect of taxing event i.e. acquisition of shares of non-profit company Young India, mere scrutiny assessment would not bar reassessment

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