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2012-2021: Retrospective Tax Gone, But The Ghost May Remain For Some Time
The Income Tax Department lost the Vodafone case because it didn’t contest well in the Supreme Court, held the lawmakers. And to address this, the then Finance Minister Pranab Mukherjee introduced the retrospective tax in the Income-tax Act in 2012, though he was not happy with the decision when he understood the implications. (Vodafone was asked to pay $3.79 billion, including $2 billion in tax, interest and penalties – a claim called incorrect by an international arbitration tribunal). The retrospective tax is gone, but its ghost may remain. Seasoned observers say the decision to do away with the controversial tax provision is purely a political one. The Central Board of Direct Taxes officials maintain that income arising out of the sale of assets on Indian soil must be taxed in India, and they will keep doing so. Now that the I-T provision is gone, it would be interesting to see how the existing cases are handled by the taxmen. The Income-tax Act is a powerful piece of legislation that gives the tax department immense powers to deal with any case in the way it wants, if it is decided at the top level of the Board. The companies involved in the retrospective tax cases may feel happy that the provision has been quashed, but they should wait for some more time before it turns out to be a final respite.
PK Puruvar
Beleaguered BSNL’s 4G Plans Stuck In Limbo As Rival Telcos Rev Up For 5G
State-owned telecom behemoth Bharat Sanchar Nigam Ltd’s (BSNL) plans to launch 4G, at a time when private operators are on the verge of rolling out 5G services, seems to be jinxed. While the latest in the series is a Tata Consultancy Services-led consortium seeking changes in product specifications, in July BSNL’s board did not approve upgradation of its base transceiver stations (BTS) in two zones. The proposal to upgrade BTSs, supplied by Nokia in southern and western zones, did not get approval at the board meeting held on July 23, 2021, which was chaired by BSNL chairman and managing director PK Purwar. This was despite the proposal, which was estimated to cost a modest Rs 550 crore, was approved by BSNL’s management committee on July 1. However, its board, including two members from the Department of Telecommunications (DoT) and directors of BSNL, did not agree to the proposal and the agenda has been deferred to the next board meeting, which should take place before September 30, sources said. The mini-ratna firm was expecting the launch of 4G services, along with the Union Cabinet-approved revival plans, to help in its turnaround. For BSNL unions, this is a feeling of déjà vu, as there was a string of rejections to the PSU’s 4G equipment procurement and upgradation plans, the prior one being in December 2019.
Parth Jindal
JSW Group’s Parth Jindal Showers Rs 2.5-Cr Wishes On Tokyo Olympics Champions
Parth Jindal is pleased as punch after Tokyo 2020 Olympics returned seven medals, including the first Track and Field gold, thanks to the tall and strapping Neeraj Chopra directing the World Athletics approved Javelin made of steel/aluminum or aluminum alloy to a distance of 87.58 metres, that usually the 100m sprinters on track run in probably under a flat nine seconds. Parth is the Founder of Inspire Institute of Sport and JSW Sports, but most importantly a sports lover keen to create a good space for non-cricket sports persons ambitious of wanting to excel in running, throwing, jumping in addition to team sports. He owns the IPL franchise, Delhi Capitals. The medal winners have been hailed as the new stars on the Indian sports horizon and awarded money which they deserve. If money can act as an incentive to motivate and perform, why not? Parth’s JSW Group has announced Rs 25 million (Rs 2.5 crore) to the medal winners and their coaches. Chopra will receive Rs 1 crore, wrestlers Ravi Dahiya and Bajrang Punia, Rs 20 lakh and Rs 15 lakh, Badminton ace PV Sindhu and boxer Lovlina Borgohain Rs 15 lakh each, Weightlifter Mirabai Chanu, Rs 20 lakh, and each member of the men’s hockey team, Rs 2 lakh. The coaches and support staff have been handsomely rewarded. Hopefully many more corporates would follow suit.
KL_Rahul_rohit
Rahul-Rohit’s Run Feast In England Lifts India’s Opening Gloom
India’s unlikely opening pair of Rohit Sharma and KL Rahul, eternally on Test comeback trails, have forged into a fine combination to be the bedrock of India’s campaign. They have added 257 runs so far in five innings in the English summer, including the WTC final. While Rahul put his name on the coveted honours board at hallowed Lord’s, Rohit is yet to make his first century away from home even as he improves his away average that is at least 50 runs worse than his imposing 79.50 at home. Standing a foot outside his crease is Rohit’s adaptation of the Virat Kohli technical template for English conditions while Rahul stays crease-bound and yet masterful in his ability to drive the ball through the offside and in the classical V. Dark skies with hints of moisture to aid swing and seam of a virtually black Test Dukes ball and pitches that are spicier than ever before and offering variable bounce are the challenge India’s openers are facing up to with elan. India’s batting dominance thus far has also been helped along by the presence of Ravindra Jadeja as the batting all-rounder, which comes at the expense of the controversial omission of Ravichandran Ashwin. Crucially, India have been on top of England after the disappointment of the WCT final.
skoda_starsports
ICC Sponsorship, Design Contests Lined Up to Boost Skoda's 2.0 Strategy
The year 2021 seems to be an important one for Skoda Auto, the European auto giant, as they have unveiled the 2.0 strategy. For starters they have announced a unique design contest for all its new cars to be globally unveiled in India later this year. The winners of this contest will get to meet their head of design at Prague, Czech Republic. Realizing India loves cricket, the company is investing in the ICC Men’s T20 World Cup as broadcast partner. It may be recalled that Škoda made its first major inroad into football sponsorship by agreeing a deal with Spanish LaLiga club Espanyol. Its strategy seems to be to sponsor the most popular sports. For ICC, besides Skoda, they have already signed another auto client on board besides Nissan who are the sponsors for global cricket events till 2023. ICC has also opened Expression of Interest for media rights opportunities for various non-exclusive media rights in relation to public screening. To popularise the sports globally, they have also introduced bids to get bidders to package attractive content on any inflight or on board entertainment on aircraft, ship or train. These commercial initiatives by ICC are to boost the popularity of cricket globally by 2032 and open the door to the sport’s entry in the Brisbane Olympics.

TRENDS & VIEWS

Editor’s Note: Short Post Noticed By People Who Matter

Four years have zipped by and we are crossing another milestone on 31st January 2025 – it’s our 4th Anniversary. It feels good.
Looking back at the 1460 days, I must say Short Post has made its mark with people who matter via 4000 stories published in the areas of politics, business, entertainment and sports. All made possible by the unflinching commitment and dedication of our senior editors, most of whom have been part of this journey from Day One.
Small pack, big impact is in essence the story of Short Post which was launched at the height of the Covid-19 pandemic in 2021. It shows our conviction. In all humility, I can say, we have created a new niche in the news segment space like Hindustan Unilever which created a new segment, when it launched CloseUp Gel.
Yes, we have created a brand (in a limited sense), created demand (readers) and created supply (senior journalists). But we are facing teething problems like all start-ups. What makes us happy and confident is the recognition of our efforts. For instance, we have an arrangement with the OPEN Magazine, part of the $4.5 billion Kolkata-based Sanjiv Goenka-RPG Group. This arrangement sees around 10 Short Post stories posted on OPEN Magazine website every week. This arrangement is testimony that our content has been well received! Also, I may add that the Maharashtra government has recognised Short Post and has allowed our senior editor to cover the Assembly sessions. Ditto: Odisha.
Our goal is to ensure that Short Post becomes a habit. I would like people to keep checking their smartphones to know the latest Authentic Gossip. As regards AI and the fear of it disrupting all businesses including media. On that, personally, I have no such fear as I am confident AI cannot smell news particularly Authentic Gossip. That’s the place we are well entrenched.