New Delhi: The Supreme Court allowed the Income Tax Department to reopen the tax assessment of top Congress leaders Rahul and Sonia Gandhi for 2011-12 in connection with the National Herald case.
The apex court, however, restrained the I-T department from implementing its order in the proceedings against Rahul, who is the Congress president, and his mother Sonia till the pendency of the matter before the court.
The court also said it was not expressing any opinion on the merits of the pleas filed by Rahul and Sonia Gandhi in the case The tax matter is related to the National Herald case in which the Congress leaders are also facing criminal proceedings.
A bench headed by Justice A K Sikri posted the matter for further hearing on January 8 next year.
Solicitor General Tushar Mehta, appearing for the I-T department, said the court should not restrain it from implementing the assessment orders against the Gandhis and others. He said the court should hear the matter and pass appropriate orders.
The Gandhis and senior Congress leader Oscar Fernandes have challenged the Delhi High Court’s September 10 verdict by which their plea against the re-opening of their tax assessments for 2011-12 was dismissed.
Ensure smooth functioning of Parl, take issues related to people’s welfare: PM Modi
New Delhi: As the Winter Session of Parliament commenced, Prime Minister Narendra Modi on Tuesday appealed to all political parties to ensure smooth functioning while assuring that all issues would be discussed in the House.
The session, which will have 20 sittings spread over a period of 29 days, is expected to be used by the Opposition parties for raising several issues like Rafale deal and alleged government interference in the functioning of institutions like the Reserve Bank of India (RBI) and Central Bureau of Investigation (CBI).
“This session is important; many issues of public importance will be taken up. I have faith that all the members of the Parliament will respect this sentiment and move ahead. Our efforts are that discussions are held on all issues. We have always tried to discuss on all issues raised by the Opposition, which sometimes turns into heated argument. The government will try its best to solve all the issues raised by the Opposition,” the Prime Minister said ahead of the Winter Session.
The government yesterday held a meeting with leaders of all the parties to discuss how the session could be run smoothly.
Addressing the floor leaders, Prime Minister Modi said, “The government is always receptive to the issues raised by all political parties.”
The Prime Minister also encouraged them to strive to create a constructive atmosphere during the Winter Session and collectively address the issues related to people’s welfare.
The all-party meeting was attended by among others Union Ministers Rajnath Singh, Arun Jaitley, Vijay Goel, and Arjun Ram Meghwal. All leaders also observed a two-minute silence to pay homage to former Union Minister H N Ananthkumar, who died last month in Bengaluru.
Patel’s resignation ‘severe blow’ to nation’s economy: Manmohan Singh
New Delhi: Former prime minister Manmohan Singh termed RBI Governor Urjit Patel’s resignation as “very unfortunate” and said it was a “severe blow” to the country’s economy.
Patel, who had a run in with the government over autonomy of the central bank, resigned from his job earlier on Monday, citing personal reasons.
His resignation came four days ahead of a crucial meeting of the board of the central bank that could have discussed issues of simmering differences with the government.
In a statement, Singh said he hoped that the RBI Governor’s sudden resignation is not a harbinger of Prime Minister Narendra Modi-led government’s attempts to “destroy” the institutional foundations of India’s USD 3 trillion economy.
He said it will be “foolhardy” to diminish institutions for short-term political gains.
“It is with great sadness that I received the news of the resignation of the Governor of the Reserve Bank of India, Urjit Patel,” Singh said.
“Patel’s sudden resignation, at a time when the Indian economy is faced with many headwinds, is very unfortunate and is a severe blow to the nation’s economy,” he said.
The former prime minister added that he has known Patel to be an economist of high repute and also someone who cared deeply about India’s financial institutions and economic policy.
“Building institutions take a long time and effort but they can be destroyed in a whimper. It is institutions such as the RBI, among many others, that have served as the edifice of our great nation’s progress since independence. It will be foolhardy to diminish these institutions for short-term political gains,” Singh said.
He recalled RBI Deputy Governor Viral Acharya’s apprehensions about the government’s intent to raid the capital reserves of the RBI for fiscal purposes.
“I hope the resignation of the Governor is not a sign that this may soon become a reality,” he said.
“I also sincerely hope that this sudden resignation of the Governor is not a harbinger of the Modi government’s attempts to destroy the institutional foundations of India’s USD3 trillion economy,” he added.
Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992.
His three-year term was to end in September 2019 and he was eligible for a second term, like most of his predecessors.
The government seems to have accepted his resignation with Prime Minister Narendra Modi saying Patel will be missed “immensely”.
No announcement of Patel’s replacement has been made yet.
Economist Surjit Bhalla quits from PM’s Economic Advisory Council
New Delhi: Eminent economist and columnist Surjit Bhalla on Tuesday said that he had resigned as part-time member of Economic Advisory Council to the Prime Minister (EAC-PM) on December 1.
“I resigned as part-time member of PMEAC on December 1,” Bhalla said on social networking site Twitter.
The EAC- PM is headed by NITI Aayog member Bibek Debroy. Economists Rathin Roy, Ashima Goyal and Shamika Ravi are other part-time members.