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SHISHIR PRASHANT Haridwar, 21 July Hero MotoCorp, India’s largest motorcycle pro- ducer, has approached the Board of Revenue for relief against a penalty of ~111 crore imposed on it by Haridwar district authorities for allegedly evading stamp duty related to the lease deed of its manufacturing plant here. The move follows controversy over the reg- istration of the lease deed of the plant at 2006 circle rates, which allegedly led to a stamp duty loss of ~254 crore to the state exchequer. When contacted, a Hero MotoCorp spokesperson said, “The DM (district magis- trate)’s order has been stayed by the Board of Revenue; the next hearing will be held in the first week of August.” In February this year, the company had registered the land deed of its 214-acre Haridwar industrial plot at 2006 circle rates, allegedly due to a relaxation provided by the state government. Hero MotoCorp moves revenue board in stamp duty case
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SHISHIR PRASHANTHaridwar, 21 July
Hero MotoCorp, Indias largest motorcycle pro-ducer, has approached the Board of Revenuefor relief against a penalty of ~111 crore imposedon it by Haridwar district authorities forallegedly evading stamp duty related to thelease deed of its manufacturing plant here.
The move follows controversy over the reg-istration of the lease deed of the plant at 2006circle rates, which allegedly led to a stampduty loss of ~254 crore to the state exchequer.
When contacted, a Hero MotoCorpspokesperson said, The DM (district magis-trate)s order has been stayed by the Board ofRevenue; the next hearing will be held in thefirst week of August.
In February this year, the company hadregistered the land deed of its 214-acreHaridwar industrial plot at 2006 circle rates,allegedly due to a relaxation provided by thestate government.
Hero MotoCorp movesrevenue board instamp duty case
