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tax on TS Beverages Corpn: Court reserves orders
A two judge bench of the High Court at Hyderabad on Wednesday reserved orders on a petition by Telangana State Beverages Corporation Ltd (TSBCL) challenging the attachment notice issued by the Income Tax department. The bench comprising Chief Justice Kalyan Jyothi Sengupta and Justice P V Sanjay Kumar was dealing with a writ petition filed by the company questioning the action of the department in ordering the company to pay t
A two judge bench of the High Court at Hyderabad on Wednesday reserved orders on a petition by Telangana State Beverages Corporation Ltd (TSBCL) challenging the attachment notice issued by the Income Tax department. The bench comprising Chief Justice Kalyan Jyothi Sengupta and Justice P V Sanjay Kumar was dealing with a writ petition filed by the company questioning the action of the department in ordering the company to pay tax arrears of about Rs 1,225 crores for assessment year 2012-13 and 2013-14. The bench pointed out that there was no provisions under the AP Reorganising Act empowering the IT authorities to raise a tax demand on newly created corporation after the division of the state. “Instruct your officers to study the laws carefully more particularly Indian laws, not foreign laws, before initiating any action”, the bench said and reserved its orders.
