Tax dispute: Nokia Finland needn’t deposit Rs 3,500 cr now, Delhi HC directs I-T

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Earlier, the Delhi HC had allowed the Indian leg of the global Nokia-Microsoft deal to go through, subject to a host of condition. Earlier, the Delhi HC had allowed the Indian leg of the global Nokia-Microsoft deal to go through, subject to a host of condition.
SummaryHC says Nokia can do so after it has exhausted all legal remedies.

been specified by Nokia in its letter of guarantee. The application had also highlighted that Nokia had not stated the duration within which it will deposit the said amount.

Senior counsel NP Sahni had earlier pleaded that necessary directions should be issued for placing the amount of Rs 3,500 crore in an escrow account. Additionally, he had asked the court to devise a mechanism for adjustment of refunds till the time the entire issue reaches finality.

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