New Delhi , 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.
"Accordingly, in view of our findings given above, we hold that the ld. CIT (E) was justified in cancelling the registration from the assessment year 2011-12 because none of the activities of the assessee was carried out in accordance with its objects nor its activities can be held to be genuine. Consequently, the appeal of the assessee is dismissed," read the ITAT order.
Rahul Gandhi had appealed against the I-T department's decision in July to scrap the 'charitable' tag, saying that the tax exemption they enjoyed could not be reversed retrospectively. The ITAT, however, turned down the appeal