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Nokia tax case: I-T department moves HC

The conditions included that Nokia India will deposit a minimum of Rs 2,250 crore in an escrow account.

The Income Tax department on Friday moved the Delhi High Court seeking “directions/clarifications” of the December 12 order by which the assets of mobile phone handset maker Nokia in India were defreezed.

A bench,headed by Justice S Ravindra Bhat,posted the plea of the IT department for January 17 before another bench which had on December 12 paved the way for the sale of Finnish mobile firm to Microsoft subject to certain conditions.

The conditions included that Nokia India will deposit a minimum of Rs 2,250 crore in an escrow account while its parent company Nokia Corporation would be liable to pay the tax dues as applicable under the Income Tax Act up to maximum of Rs 3,500 crore.

Seeking modifications in the order,the IT department,in its fresh application,said “in the conditions imposed by the High Court …,the situs of amount of Rs 3,500 crore and the realisation thereof is not stated/directed.

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First published on: 04-01-2014 at 02:53 IST
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