News Broadcasting
Tribunal upholds tax demand, NDTV intends to challenge order
NEW DELHI: The Income Tax Appellate Tribunal (ITAT) has upheld a tax demand raised on investments of USD 150 million by a US television network in NDTV in 2008, an order that the Indian company said has “numerous inconsistencies and contradictions”. With the tribunal’s 14 July 2017 order upholding the tax demand, penalty proceedings are likely to commence shortly.
NDTV had assured shareholders that it would seek necessary legal advice and appeal against any adverse ITAT order. On its web site, it stated: “This is with reference to reports in certain section of the media as well as social media regarding the rejection by the Income Tax Appellate Tribunal (ITAT) of an appeal filed by the Company against the assessment order for tax demand of Rs. 450 crore for the assessment year 2009-10. The ITAT order has not yet been uploaded. Once the order is uploaded, the Company will advise shareholders of the implications thereof.”
In a stock exchange filing, NDTV said it was surprised at ITAT dismissing the appeal it had filed against the tax demand, according to a PTI news report, which quoted the company as saying, “It is important to note foremost that the ITAT has accepted that there was no round-tripping or money laundering, as was alleged by income tax department.”
The tax department had alleged that Rs 218.30 crore (Rs. 2183 million) was the tax that was sought to be evaded on investment of Rs 642.54 crore (Rs. 6425.4 million). It had sought a penalty of Rs 436.8 crore (Rs. 4368 million) at the rate of 200 per cent of tax evaded.
It confirmed invocation of Sec 69A of Income tax Act (dealing with ‘unexplained money’ addition) and upheld that “transaction used principally as a devise for the distribution/ diversion of sum to the Indian entity” and that “the beneficial owner of the money is the assessee”.
PTI quoted NDTV as saying: “Surprisingly, the ITAT has dismissed the appeal filed by the company as not being maintainable but at the same time adjudicated the appeal filed by the income tax department (ITD) against the same assessment order. It is inconceivable how appeal filed by the ITD against the assessment order is maintainable before the ITAT but the company’s appeal emanating from the same order is not maintainable.”
“Surprisingly, the ITAT has upheld the addition under Section 69A of the Act, purely on conjectures and surmises, ignoring the evidence adduced by the company including the annual reports of the investors,” NDTV was quoted as having said, “The legal advice received is that a consistent view has to be taken and it appears that the order had been passed in a haste and the above inconsistencies have arisen because of a hurried order. We have been advised that Section 69A of the Act is applicable only when money is found in possession of a taxpayer but not accounted for in the books of accounts.
“However, the said section has no application in the present case since admittedly, investment made by NBC Universal (admittedly then subsidiary of the GE Group) through its step down subsidiary, Universal Studios International BV, was duly recorded in the books of accounts of the company’s subsidiary, viz, NDTV Networks International Holdings BV.”
Stating that it will continue to fight the “misguided case” made by income tax department, NDTV said it is “exploring all options available to it in accordance with law.
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News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
