Idea Cellular and unit served 39 billion rupees tax demand - media - Reuters India

Tweet Link this Share this MUMBAI (Reuters) - Idea Cellular Ltd (IDEA.NS), India's third-largest mobile carrier by revenue, and one of its subsidiaries have been issued with tax demands totalling 39 billion rupees by Indian authorities, media reported on Saturday. Idea said on... Email Print Track and analyse performance of all BSE sectoral indices and other global indices on a single page.   Full Coverage  Get stock quotes Track BSE Sensex Gold, silver, oil prices Updates on currency markets, exchange rates Set alerts for stocks A shopkeeper speaks on a mobile phone at a vegetable wholesale market in Mumbai June 8, 2010. Credit: Reuters/Rupak De Chowdhuri/Files MUMBAI | Sat Apr 6, 2013 1:32pm IST MUMBAI (Reuters) - Idea Cellular Ltd (IDEA.NS), India's third-largest mobile carrier by revenue, and one of its subsidiaries have been issued with tax demands totalling 39 billion rupees by Indian authorities, media reported on Saturday. Idea said on Friday that it had received the demands, which relate to a restructuring exercise approved by courts more than three years ago, but did not disclose the amount. The transfer of assets between Idea and its unit Aditya Birla Telecom were subject to capital gains tax according to tax officials, the Economic Times reported, citing an unidentified person close to the development. The company, part of the $40 billion Aditya Birla Group conglomerate, said on Friday it believed the demands were "unjustified and based on erroneous interpretation of current tax laws". Idea is evaluating options including challenging the tax demand, the company added. (Reporting by Henry Foy in MUMBAI; Editing by Robert Birsel) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEVzYxmVD0fK_SbzF65JHptaz2mHw&url=http://in.reuters.com/article/2013/04/06/indias-idea-celluar-and-unit-served-idINDEE93503K20130406

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