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TS govt decides to fight it out
With the AP government refusing to pay Rs 1,500 crore Income Tax arrears owed by the AP and Telangana Beverages Corporation Limited (APBCL and TSBCL) recently, the Telangana government has now decided to address the contentious issue. It has decided to wage a battle against the Income Tax Department.
Notice to AP Beverages Corp
- Principal Secretary Ajay Mishra is asked to seek legal opinion and send a strong reply to the Income Tax Department
- It is contended that the AP govt should pay Rs 1,500 crore arrears because transactions took place when the State remained united
Hyderabad: With the AP government refusing to pay Rs 1,500 crore Income Tax arrears owed by the AP and Telangana Beverages Corporation Limited (APBCL and TSBCL) recently, the Telangana government has now decided to address the contentious issue. It has decided to wage a battle against the Income Tax Department.
According to sources, the TS government has now entrusted the responsibility to resolve the issue to the Telangana State Principal Secretary of Commercial Taxes and Excise Ajay Mishra. He was asked to seek the legal opinion to find a solution to the problem.
It may be mentioned here that the Beverages Corporations of Andhra Pradesh and Telangana were served demand notices to the tune of over Rs 1,500 crore by the Income Tax Department recently. The two governments also approached the High Court and got stay orders on the IT notices. The two states also resorted to blame game against each other.
While Telangana State officials argued that since all the transaction took place from APBCL, which was constituted in 1986 in the united Andhra Pradesh, the AP government was liable to pay the IT returns. Though the notices were served after the division of State, the TSBCL had no role in the transactions that took place in the last 20 years.
The AP officials maintained that the TS government should pay money as the APBCL was headquartered in Hyderabad in the years for which the demand was raised. The TSBCL officials said Mishra would meet one of the famous IT law expert Arvind Datta in New Delhi in a week.
The official already held first round of talks with some legal experts recently. Sources said that the government is preparing a strong reply to the IT notices in consultation with the legal experts.
