2G: I-T begins probe against telecom firms

Income Tax Department has initiated a post-2008 probe into the finances, investments and returns of Telecom Companies that were given 2G spectrum licence during the tenure of A Raja as Telecom Minister. Supreme Court later cancelled these 122 licences on the ground that they were issued in a totally arbitrary and unconstitutional manner.

In its 2G probe case status report, the Central Board of Direct Taxes, CBDT last week had informed the Supreme Court that it has begun to scrutinise the tax statements and multi-billion investments of these telecom firms on the directions of Central Vigilance Commission. The CVC, during a meeting last month with a team of CBDT officials, had asked them and the I-T department to focus and probe all those telecom firms who were granted 122 licences during Raja's tenure.

The CBDT, subsequently has issued formal orders to all its investigation units across the country, to begin a
comprehensive financial probe of these telecom firms with retrospective effect from 2008.