Reduce burden of tax, Telangana High Court directs CBDT
In a writ petition filed by Telangana Building and Other Construction Workers Welfare Board claiming that they are entitled for exemption granted in 2017 for a period of 5 years.
Hyderabad: A two judge panel of the Telangana High Court comprising of Justice M S Ramachandra Rao and Justice T Vinod Kumar directed Central Board of Direct Taxes to reduce the burden of different structure of the tax and stated that the capital asset effected in the previous year will be chargeable to income-tax.
In a writ petition filed by Telangana Building and Other Construction Workers Welfare Board claiming that they are entitled for exemption granted in 2017 for a period of 5 years. The court observed that these public funds are being pocketed instead of releasing them to people who are in dire need of it. Avinash Desai, counsel appearing for the Board contended that they are not required to pay any tax at the moment since there is an exemption granted. The matter has been adjourned to April 21 for further hearing.
