Hyderabad The Telangana High Court today slammed the Income Tax Department for not returning the Rs 5 crore seized on the plea of the city-based Maqtec company. The court has ordered the income tax department to pay 12 million rupees in addition to the company’s five crore rupees and return twenty thousand rupees as expenses.
On Thursday, a division bench of Justice MS Ramachandra Rao and Justice Amarnath God heard the company’s plea. The petition stated that the Income Tax Department had seized five crore rupees from Vipul, an employee of Maxtek Company, in the beginning of the financial year 2019. The Income Tax Department did not return the seized amount to the company, despite the company presenting all the documents related to the money. During the hearing today, the court bench strongly reprimanded the Income Tax Department and ordered the company to return the seized Rs 5 crore with 12 percent interest. The court has also ordered to pay 20 thousand rupees to the company in the legal proceedings on the Income Tax Department.
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