Imposition of tax on horseracing / betting - powers of Commercial Tax Department - Seizure of books of accounts - Scope of Hyderabad Horse Racing and betting Tax Regulation of 1358 F

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Imposition of tax on horseracing / betting - powers of Commercial Tax Department - Seizure of books of accounts - Scope of Hyderabad Horse Racing and betting Tax Regulation of 1358 F - Commentaries / Editorials Dated:- 27-5-2015 - News - While upholding the power of Commercial Tax Department to take necessary action in respect of Imposition of tax on horseracing / betting, the Hon'ble High C .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ourt in the matter of: M/s. Satty and Associates Versus Joint Commissioner (CT) Enforcement Wing, Hyderabad - 2015 (5) TMI 831 - ANDHRA PRADESH HIGH COURT has made the following obserations: Horseracing and certain other forms of betting in connection therewith is well known across the world. There is a phenomenal increase in the race-goers in India in the recent times. Though huge revenues o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... f the Government towards horseracing and betting in connection therewith are involved, it appears, no serious thought is given to bring about a new legislation covering several aspects, to prevent leakage of revenue of the State. Even now, horseracing and other forms of betting connected therewith are governed by the Hyderabad Horse Racing and Betting Tax Regulation of 1358 F., framed by the erstw .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... hile Hyderabad State in 1358 Fasli. Having regard to the same, it is high time that the State should give a serious thought to cover up the lacunae in the Regulations and, if necessary, bring about an appropriate new legislation to prevent leakage of revenue by way of tax in horseracing and betting. See:- M/s. Satty and Associates Versus Joint Commissioner (CT) Enforcement Wing, Hyderaba .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d - 2015 (5) TMI 831 - ANDHRA PRADESH HIGH COURT - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X