Shocking! Income Tax dept smells a rat on Freedom 251 launch?

After all that massive buzz that Ringing Bells made by launching the 3G smartphone priced at just Rs 251, Income tax Department's investigation team is reported to have visited the Ringing Bells office.

Updated: Feb 19, 2016, 13:27 PM IST
Shocking! Income Tax dept smells a rat on Freedom 251 launch?

Zee Media Bureau

New Delhi: After all that massive buzz that Ringing Bells made by launching the 3G smartphone priced at just Rs 251, Income tax Department's investigation team is reported to have visited the Ringing Bells office.

As per a Hindustan Times tweet, a three members Income Tax Department team reached Ringing Bells office in Noida , and began grilling the company officials on the phone launch.

 

Industry experts have expressed shock that how could a smartphone phone that costs around Rs 4000 is selling at a mere Rs 251, and smell a rat on the entire episode of the phone launch and on the business plan of Ringing Bells.

 

As per the company officials, the smartphone company managed to pre-book 30,000 smartphones on the day one. As per these estimates, Ringing Bells could have gathered around Rs 87 lakh in the pre-booking amount on the first day.