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Delhi High Court stays Rs 411 crore tax demand on Nokia

BGR India Monday, 20 March 2017 ()
The Delhi High Court today put on hold the Income Tax department’s order for recovery of over Rs 411 crore outstanding tax from Nokia India Sales for the assessment year 2014-15. A bench of Justices S Ravindra Bhat and Najmi Waziri issued the direction on Nokia’s plea challenging the assessing officer’s March 9 interim order for recovery of 33 percent of outstanding taxes which came to more than Rs 411 crore. The court also issued notice to the Centre and the I-T department and sought their reply to Nokia’s plea claiming that income assessed by the assessing officer was ten times more than what was declared by the company. The assessing officer had issued the order for recovery of 33 per cent of the outstanding taxes calculated
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