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2G probe report soon, says Income Tax dept
July, 29th 2011

After having quizzed former telecom minister A Raja, Swan telecom promoter Shahid Balwa and others, the income tax department said it will soon come out with a report of the investigation in 2G scam.

Our officials are inquiring into 2G spectrum case. They have taken permission from the court. A report will be prepared and action will be taken... This (investigation) is being dealt by different DGs (Directorate Generals) from Chennai and Mumbai, Central Board of Direct Taxes (CBDT) chairman Prakash Chandra said.

He said that if need be, the department will further interrogate the people involved in the scam.

The I-T department got permission from a Delhi court on July 21 to interrogate six accused Raja, Swan Telecom director Vinod Goenka, its promoter Shahid Usman Balwa and three Reliance Group officials in judicial custody. Their interrogation is likely to continue till Friday.

Raja was questioned by the department on the financial details of his family and those transactions for which he was responsible in his personal capacity.

Regarding revenue collection target, Chandra said that the department is confident of meeting the tax target for the current fiscal as there is no indication of slowdown impacting tax collection.

Present indications are that direct tax revenue collections are growing at over 23 per cent. We will certainly reach our targets, he said.

Earlier, after the reduction of duties by finance ministry on fuel items, Finance Minister Pranab Mukherjee had asked both CBDT and CBEC to collect 10 per cent more than their budget targets.

The gross direct tax collections in April-June this year were up by 23.91 per cent at Rs 1,04,136 crore against Rs 84,041 crore during the same period of the previous year.

However, due to hefty increase in tax refunds, net direct tax collections dropped by almost 17 per cent during the same period to Rs 57,268 crore.

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