{"id":3553,"date":"2013-03-28T23:23:01","date_gmt":"2013-03-28T17:53:01","guid":{"rendered":"http:\/\/vividtimes.com\/?p=3553"},"modified":"2013-03-28T23:54:39","modified_gmt":"2013-03-28T18:24:39","slug":"nokia-gets-interim-stay-from-delhi-hc-against-rs-2000-cr-tax-dept-notice","status":"publish","type":"post","link":"https:\/\/www.vividtimes.com\/nokia-gets-interim-stay-from-delhi-hc-against-rs-2000-cr-tax-dept-notice\/","title":{"rendered":"Nokia gets interim stay from Delhi HC against Rs 2,000-cr Tax Dept notice"},"content":{"rendered":"

\"Nokia<\/a><\/p>\n

The Income Tax department has served a Rs. 2,000 crore demand notice on Finnish mobile phone maker Nokia for alleged evasion of taxes in its business transactions in the country.<\/p>\n

The department had on March 21 asked the firm to submit the amount of Rs. 2,000 crore in about a week\u2019s time, I-T department sources said on Thursday.<\/p>\n

The Delhi High court has granted an interim stay of the demand after the mobilephone manufacturing company filed a petition challenging the order.<\/p>\n

Nokia confirmed receiving the notice and said it is in \u201cfull compliance\u201d with laws related to its business operations.<\/p>\n

\u201cNokia confirms it has received an order from Indian tax officials. Nokia reiterates its position that it is in full compliance with local laws as well as the bilaterally negotiated tax treaty between the governments of India and Finland, and will defend itself vigorously.<\/p>\n

\u201cIn this regard, Nokia filed a writ before the Delhi High Court last week and on Friday, March 22 the Court has issued notice to the Income Tax department to file its counter affidavit and has granted interim stay of the entire tax demand raised against Nokia till further orders,\u201d a Nokia spokesperson said in a statement to PTI.<\/p>\n

The I-T department will soon file its reply in the Delhi High Court stating the provisions that \u201cenable and authorise\u201d it to issue such a time-bound notice, department sources said.<\/p>\n

The notice has been issued by the I-T department after it completed its probe and had conducted a \u2018survey\u2019 operation on the premises of the Chennai in January this year.<\/p>\n

The tax evasion, according to I-T department sources, pertains to royalty payment made against supply of software by the compamy\u2019s parent company which attracts a 10 per cent tax deduction under the Tax Deducted at Source (TDS) category.<\/p>\n

The department has analysed the company\u2019s business statements since 2006, they said.<\/p>\n

\u201cSince establishing the Chennai factory in 2006, indeed since starting business operations in India in the mid-1990s, Nokia has been scrutinized by the authorities regularly and its policies have been validated by the Indian and Finnish Tax authorities in the normal course of tax proceedings.<\/p>\n

\u201cNokia arrived in India 18 years ago and has grown to become a market leader, contributing to the rapid growth of the Indian economy. Nokia has invested over USD 330 million in Chennai since setting up the factory,\u201d the Nokia spokesperson said.<\/p>\n

\u201cNokia has enjoyed a long and fruitful relationship with India, and looks forward to a prompt and just resolution to this matter,\u201d it added.<\/p>\n

Via: The Hindu<\/p>\n","protected":false},"excerpt":{"rendered":"

The Income Tax department has served a Rs. 2,000 crore demand notice on Finnish mobile phone maker Nokia for alleged<\/p>\n","protected":false},"author":1,"featured_media":3554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[4,5,1],"tags":[1970,1969,1964,1967,10,1971,1966,1968,1965],"jetpack_publicize_connections":[],"yoast_head":"\nNokia gets interim stay from Delhi HC against Rs 2,000-cr Tax Dept notice<\/title>\n<meta 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