Telecom Sector

Idea Cellular and its Subsidiary Slapped with Rs 3,900-crore Tax Notice

Idea Cellular and its Subsidiary Slapped with Rs 3,900-crore Tax Notice

Income tax department has issued Idea Cellular Ltd. and its subsidiary, Aditya Birla Telecom, a notice of Rs. 3,900-crore, avowed recent reports.

The report was revealed on Saturday. Idea accepted the same in an interaction on Friday but didn't reveal the amount. Officials from the income tax department said that the transfer of assets between Idea and its subsidiary were subject to capital gains tax, said a report from the Economic Times.

I-T dept. slaps two Aditya Birla firms with tax demand order of Rs 3,900cr

I-T dept. slaps two Aditya Birla firms with tax demand order of Rs 3,900cr

The income-tax department has slapped two Aditya Birla group companies with a tax demand order of Rs 3,900 crore over demerger of telecom business that took place nearly four years back.

In 2009, Aditya Birla group demerged its telecom business into two companies, viz. Idea Cellular and Aditya Birla Telecom. The income tax department is now treating the transfer of assets, licence and liabilities from Aditya Birla Telecom to Idea Cellular as a slump sale, which is taxable.

Bharti Airtel Won the Case of Offering 3G Services in Roaming Zones

Bharti Airtel Won the Case of Offering 3G Services in Roaming Zones

Stay orders on the government notice to Bharti Airtel were lifted by the High Court on Thursday. The notice directed Bharti Airtel to terminate its 3G roaming services outside its licensed zones. It also asked the company to file a penalty of Rs. 350 crore.

The elevation of the stay orders gave the company a sigh of relief that it can continue its 3G Intra-circle roaming services until the arrival of the final orders. The matter has been postponed up till May 8, 2013 by the court. However, Airtel is allowed to keep its earnings from the pack in a separate account.

Tata Communications Realizes Surge in Shares after Land Parcel’s Sale Transaction

Tata Communications Realizes Surge in Shares after Land Parcel’s Sale Transactio

The Exchange has lately been informed by Tata Communications Limited that a sale transaction of the Nungambakkam, Chennai-based building and land parcel has been completed by it.

Tata Communications' shares went up at Rs. 229.50 i. e. by 0.07% at 12.44pm in the wake of the same, the report claimed. On the other hand, the benchmark index Sensex of the BSE was noted to have gone down by 0.61% at
18,686.49 points.

Telecom will never lay ‘golden eggs’ again due to SC: Kapil Sibal

Telecom will never lay ‘golden eggs’ again due to SC: Kapil Sibal

The golden goose of telecom will never lay a golden egg again because of the intervention of the Supreme Court, Telecom Minister Kapil Sibal said on Wednesday.

In February last year, the Supreme Court had quashed a total of 122 2G telecom licences awarded by the government in 2008 by the then telecom minister A Raja. The apex court had cancelled the licences after the Comptroller & Auditor General (CAG) estimated that inconsistencies in the process of awarding licences robbed the exchequer of Rs 1,76,000 crore.

RComm shares gain over 16% after telecom deal

RComm shares gain over 16% after telecom deal

After gaining more than 10 per cent on Tuesday, stock in Reliance Communications (RComm) gained again nearly 6 per cent in the early morning trade today (Wednesday), thanks to a telecom deal with Reliance Jio Infocomm.

On Tuesday, Anil Ambani's Reliance Communications announced that it had hit a fibre optic network sharing deal with Reliance Jio Infocomm, a unit of Mukesh Ambani's Reliance Industries Ltd (RIL).

The announcement encouraged investors as the investors as well as industry experts are seeing the deal as benefiting for both companies.

Mobile Portability: a Comfort or Frustration?

Mobile Portability: a Comfort or Frustration?

The facility of Mobile Number Portability (MNP) was initiated for the comfort of users without changing their old numbers; however, it seems to have affected the users in a different and negative way. The users are more thwarted by the services rather than enjoying it. Many consumers are complaining about their request for MNP being rejected.

Operators are facing challenges in dealing with the issues like quality and billing.

Kapil Sibbal Refers Internet Governance as an Oxymoron

Kapil Sibbal Refers Internet Governance as an Oxymoron

Telecom Minister Kapil Sibbal said internet governance is an oxymoron while speaking at Google's Big Tent Activate Summit. He said that internet should be used for further empowerment, not for any means of disruption.

Technology can be used anyway, like an atom is well-known being capable of generating electricity, but it can also lead to the examples of Hiroshima.

The internet is also dependent on the energy of millions of atoms and there is an utmost requirement to have those atoms used for betterment of mankind.

Analysts Still Positive on BhartiAirtel

Analysts Still Positive on BhartiAirtel

It has been revealed in a report lately that the analysts at top brokerage firms are much optimistic on BhartiAirtel. This is despite that Sunil Mittal, Chairman of Bharti Airtel, is being called by a special court in relation to alleged irregularities in provision of excess spectrum in 2002.

On the basis of CBI's chargesheet, Asim Ghosh, former managing director of Hutchison Max (now Vodafone), and Essar Group promoter Ravikant Ruia were also called by court to face criminal charges.

Bharti Airtel Chief Sunil Mittal Summoned for 2G Scandal

Bharti Airtel Chief Sunil Mittal Summoned for 2G Scandal

The alleged chairman-cum-Managing Director of Bharti Cellular Ltd Sunil Bharti Mittal, Essar Group promoter Ravi Ruia and five others have been asked to summon in a Delhi court.

They have been facing charges of wrongdoings in allotment of additional spectrum to Airtel and Vodafone during the NDA period.

A 57-page chargesheet, has asked Shyamal Ghosh and the three telecom firms for the offences of criminal conspiracy (120-B) of the IPC and under provisions of the Prevention of Corruption Act.