National Herald case: Delhi HC declines to stay I-T proceedings against Young India

The firm withdraws petition after court asks it to approach the income tax assessing officer.

The Delhi High Court on Friday declined to stay the income tax proceedings against Young India Ltd in the National Herald case, which involves Congress leaders Sonia Gandhi and Rahul Gandhi.

A Bench of Justices S. Muralidhar and Chander Shekhar asked the company to approach the income tax assessing officer, after which the firm withdrew its petition.

The court then dismissed the plea as it was withdrawn.

Young India had approached the High Court seeking a direction to stay the I-T proceedings and quashing of notices against it with regard to the National Herald misappropriation of assets case.

The company was issued notices regarding the assessment year 2011-12.

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Source:The hindu