SC Asks Nokia to Provide Proposal for Settlement of Tax Dispute

The Supreme Court has asked Nokia India to provide a proposal for settling the tax row with the IT department, said a report.

The Nokia India and Nokia Corporation owe Rs 21, 153 crore in tax liability the IT Department had earlier said to the Delhi High Court.

The Delhi High Court order had held both Nokia India and Nokia Corporation jointly responsible for paying taxes and penalty in relation to the company’s Chennai plant. This had raised difficulties in Microsoft’s acquisition of the company.

Nokia had asked for an early settlement owing to the assets transfer that Microsoft would require of it in 2-3 weeks, said the Hindu.

Nokia has told the Bench that the decision to post a minimum deposit of Rs 2,250 crore in tax liabilities was final. This offer was recently turned down by the IT department.

The Supreme Court will resume hearing the case on March 11.