-T moves SC against transfer of Nokia assets to Microsoft Delhi : The income-tax department on Wednesday moved the Supreme Court to get the transfer of Nokia Indias Chennai plants assets to software giant Microsoft stalled as it apprehends it would not be able to recover its tax dues of over R21,000 crore once the deal is “consummated.”Earlier, Nokia had also moved the apex court seeking immediate and smooth transfer of assets of its Chennai plant as part of the impending $7.2-billion deal with Microsoft. The company had challenged the High Courts December 12 order that asked it to give an undertaking to settle any final tax liabilities that would be imposed by I-t in the tax dispute.
Posted on: Sat, 15 Mar 2014 02:01:52 +0000