The Delhi High Court has granted an interim stay on a Rs 2,000 crore notice on Finnish served by the the Income Tax department. It pertains to evasion of taxes in India.
 
The income tax authorities on March 21 had asked the company to deposit the amount within a week. The company had challenged the notice in the court.
 
“In 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,” Nokia said.
 
 Nokia said 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.
 
“Nokia remains willing to cooperate fully with Indian tax authorities in accordance with all applicable laws. Nokia has enjoyed a long and fruitful relationship with India, and looks forward to a prompt and just resolution to this matter,” It said.

According to Financial Express, the company also said it has been scrutinised by the authorities regularly since it started business operations in India in the mid-1990s, and that its policies have been validated by the Indian and Finnish tax authorities in the normal course of tax proceedings. The company has invested over $330 million in Chennai since setting up a factory there.

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