Swarnandhra to get fresh notice
Income-Tax department officials will issue a fresh ‘Property Attachment Notice’ to the Swarnandhra IJMI Integrated Township Development Company Private Limited properties at Kukatpally. This is a consequence of the construction company’s failure to pay a total of Rs 66.59 crore-corporate tax, say the Owners’ Association of Malaysian Township, KPHB colony.
V.V. Rao, Malaysian Township Owners’ Association member, said, “The income tax officials considered our letter regarding corporate tax dues of Rs 53.63 crore, which was issued to Swarnandhra IJMI Integrated company. They gave the owners’ association members an oral statement that a fresh Property Attachment Notice will be issued to Phase II (Property opposite Malaysian Township, KPHB colony) of the construction company. The issue has now been taken up by the Income-Tax Tribunal department.” According to the residents of the Malaysian Township, the builder has registered 20.8 acres of an undivided share of the land to 2,300 residents within the premises of the Malaysian Township. Currently, the builder cannot claim a single piece of land for any commercial purpose within the township.
Responding to the Property Attachment Notice issued to Swarnandhra IJMI Integrated Township Development Company on 13th June, A. Basker Reddy, commissioner of income tax said, “According to our information, no part of the attached land has been alienated from the residents of the Malaysian township. “It is only the unsold part of the land that has been attached. The particular piece of land, which the residents’ association claims belongs to them, has actually been set apart for commercial development as per the layout Plan approved by the Municipal corporation of Hyderabad on July 14.”
The company Swarnandhra IJMI Integrated Township Development Company Private Limited is a joint sector company promoted by Andhra Pradesh Housing board and IJM (India) Limited.
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