AFTER A gap 37 years, property of the National Textile Corporation (NTC) worth hundreds of crores of rupees was released by the income tax department on Wednesday.
All the land of NTC subsidiary Laxmi Rattan Cotton Mill (LRCM) was attached with the income tax department before it was taken over by the NTC in 1976.
The property was under control of receiver appointed by the I-T department.
Sources said that against Rs 5.68 lakh tax from Laxmi Rattan Cotton Mill, the said property was attached by the income tax department in 1968 and receiver was appointed on December 3,1968.
Ten released properties are located in Sarojani Nagar, General Ganj, Fazal Ganj, Kaushal Puri (Darshanpurwa), Civil Lines and Parmat area. Sources said that income tax recovery officer RP Awashthi of range (VI) ordered the release of the said property.
The letter stated that tax dues against the property has been paid by the NTC. Therefore, the said property is being released in favour of the NTC.
Talking to the Hindustan Times, senior member of the NTC management committee, Gulab Singh said that the NTC had paid the tax dues.
When asked about taking possession of the property, Singh said that suitable norms would be followed soon.
{{/usCountry}}When asked about taking possession of the property, Singh said that suitable norms would be followed soon.
{{/usCountry}}State general secretary of the NTC Staff Association Rajendra Trivedi expressed happiness over release of the property. However, he alleged that the receiver of the property and income tax official did not take steps against encroachment on the said property and demanded a high-level inquiry into the matter.
Meanwhile, the the National Textile Corporation management has given momentum to the ongoing anti-encroachment drive with new plans.
Encroached properties include about 130 acres prime land of which 117 acre in Kanpur, seven acre in Lucknow and eight acre in Sahranpur.