New Delhi (India), Nov. 16 -- : In what could be termed as a major setback for Congress leader Rahul Gandhi, the Income Tax Appellate Tribunal (ITAT) on Friday upheld the Income Tax department's withdrawal of the charitable' status of "Young Indian" from the assessment year 2011-12.
"Here, in this case, as we have gathered from the material facts on record and discussed in detail, the assessee at the time of seeking registration itself has concealed the material facts and not disclosed the entire events of transactions which had undergone from the date of inception of assessee company till the grant of registration and one of the conditions on which the registration has been granted stood violated from the day one and therefore, under thes...