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2NDLD JPC 3
November, 16th 2011

Justifying the use of the term "presumptive", Rai said it Justifying the use of the term "presumptive", Rai said it is part of Direct Tax Code and the Income Tax Code recognises and uses terms including "presumptive income", presumptive tax". "In our audit reports, more specifically in our revenue audit reports, we have been calculating

presumptive losses. The terminology is thus not our creation," he said. Explaining why the word "presumptive" was used, Rai said the price of Rs 1,658 crore was arrived in a bidding process in 2001 by market discovery. The sale of 3G in 2010 was by an auction -- market discovery. Globally, spectrum has been auctioned. Giving various calculations incorporated in different draft reports, he said the Stage I report prepared by branch office, Delhi, carried figures of Rs 48,000 crore and Rs 26,000 crore. In the Stage II, this report was re-drafted by the office of DG (P&T) and figures of Rs 2,645 crore, Rs 2,651 crore and Rs 36,000 crore were incorporated. The covering letter of May 31, 2010 mentions figures of Rs 1,02,000 crore and Rs 65,000 crore, Rai said. At Stage III, the draft report was further scrutinised and after examination of records not available earlier, a range of figures from Rs 58,000 crore to Rs 1.76 lakh crore emerged. The top official auditor said while the Ministry of Finance gave two parameters to calculate the value of spectrum, neither was conclusively suggested. "If so, how can the government itself thereafter orchestrate a 'no loss' hypothesis," he said apparently referring to Telecom Minister Kapil Sibal's claim of zero loss due to 2G spectrum allocations.

 
 
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