A delegation led by Panchayat Raj Minister K Tarakarama Rao called on Union Finance Minister Arun Jaitley at New Delhi on Saturday seeking Centre’s intervention in getting refund of Rs. 1,274 crore to Telangana Government by the Reserve Bank of India.
Speaking to media persons later, KTR alleged that the Reserve Bank of India has “illegally” transferred the money to the Income Tax Department without serving any notice and in violation of a court order. He said that the IT Department had issued notice to Andhra Pradesh Beverages Corporation in the then united Andhra Pradesh, seeking tax dues worth Rs.2,900 crore. The notice was challenged in the court by the Telangana Government which contented that the division of the corporations’ assets and liabilities between the two States was still not completed and even if the recovery was to be made, it should be from both the states on the ratio of 58:42 between Andhra Pradesh and Telangana.
KTR said he had urged the Union Finance Minister to intervene and ensure that the amount is transferred back to the Telangana Government. (INN)