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IT dept notice to Sindji Green Lands Challenged
A two-judge bench of the High Court at Hyderabad comprising justice V Ramasubramanan and Justice Shyam Prasad on Wednesday took on file a writ appeal filed by directors of Sindhu Green lands Pvt. Ltd. questioning the action of the Income Tax Department and the Union of India in seeking to prosecute the Directors and intimating them under Sec143(1) of the Income Tax Act.
Hyderabad: A two-judge bench of the High Court at Hyderabad comprising justice V Ramasubramanan and Justice Shyam Prasad on Wednesday took on file a writ appeal filed by directors of Sindhu Green lands Pvt. Ltd. questioning the action of the Income Tax Department and the Union of India in seeking to prosecute the Directors and intimating them under Sec143(1) of the Income Tax Act.
The petitioners are all directors of Sindhu Green lands Pvt. Ltd. They said company had entered into a development agreement with Maytas for building certain properties and had received about Rs 8 crore in the commercial transactions.
According to the petitioners, they had assessed the property for taxation and also paid the necessary taxes. However, in August 2009 a demand was made for tax payment of Rs 2.5 crores and also a penalty of Rs 50 lakhs.
The Income Tax authorities then sought to prosecute the company and the petitioners by filing a criminal case before the Special Judge for Economic Offences. The penalty imposed is subject matter of a statutory appeal.
In the present writ petition, it is contended that the present notice is unconstitutional, void and contrary to law.
