The Delhi High Court will pronounce on Thursday its verdict on Nokia’s plea for a direction to Income Tax department for lifting of the stay on transfer of assets here in view of its $ 7.2 billion global deal
A bench of justices Sanjiv Khanna and Sanjeev Sachdeva, which today reserved its order after hearing arguments from the mobile manufacturing company and the I-T department, will pronounce the verdict at 2.15 pm.
Nokia India Private Ltd’s assets and accounts were frozen by the Income Tax department for alleged income tax evasion by the company.
Nokia’s counsel had earlier argued that if the tax row was not resolved by 12 December, its Finnish parent company Nokia Corp’s deal with Microsoft may land in trouble.
A bench of justices Sanjiv Khanna and Sanjeev Sachdeva, which today reserved its order after hearing arguments from the mobile manufacturing company and the I-T department, will pronounce the verdict at 2.15 pm.
Nokia India Private Ltd’s assets and accounts were frozen by the Income Tax department for alleged income tax evasion by the company.
Nokia’s counsel had earlier argued that if the tax row was not resolved by 12 December, its Finnish parent company Nokia Corp’s deal with Microsoft may land in trouble.