New Delhi, Oct 4: Adding more trouble to Finnish mobile firm Nokia, whose immovable assets were attached in an alleged tax evasion case recently, the Income-Tax Department is set to issue fresh demand notices for payment of taxes to the tune of Rs 1,000 crore.
The department, according to sources, has also "prioritised" the tax demand notices on the firm pertaining to assessment years of 2011-12 and 2012-13 so that the "interest of the revenue" is not jeopardised against the backdrop of the current tax litigation with the company and the proposed acquisition of the mobile phone maker by US giant Microsoft.
Sources privy to the tax case of Nokia said the firm's assets were frozen not only for the purpose of obtaining revenue with regard to the earlier demand of Rs 2,080 crore, but also in connection with the forthcoming demand notices, which could be issued "as soon as assessment proceedings finish within 2013''.
"The estimated fresh tax liability on the firm could be about Rs 1,000 crore and the I-T procedures will be followed in this regard," the sources said.
When contacted by PTI, Nokia said that it is unaware of any such forthcoming action and it was not in a position to comment on a prospective move.
"Nokia's longstanding policy is not to comment on market speculation, but we can say that we are unaware of any such claim from the income-tax authorities.
"Nokia operates with transparency in its business transactions and is committed to resolving the outstanding issues with Indian tax authorities in accordance with all applicable laws. We are, however, also ready to defend ourselves vigorously as needed," a statement from the official spokesperson of the company said.
PTI
More From GoodReturns

New PAN Card Rules From April 1, 2026: How To Apply For New PAN Card Via Protean, E-Filing Portal?

LPG Gas Cylinder Prices Hiked Again From April 1; 19 KG LPG Gets Costlier By Rs 218; 14.2 KG LPG Unchanged

Gold Rate in India Rises Over Rs 37,000/24K in Three Days; Will Jump in Gold Price Today Continue on 31 March?

Gas Cylinder Booking Rules: 5 Things To Know For Your 14.2Kg, 19KG, 5KG, 10KG LPG Booking In April 2026

Gold Rate Today Continues Rally, 24K Jumps Over Rs 35000 in 2 Days; 22K & 18K Gold, Silver Prices in Delhi

Bank Holiday In April 2026: Banks To Be Closed For 14 Days; Good Friday, Baisakhi To Akshaya Tritiya

Gold Price Today Declines After 3-Day Surge; Check Latest 22K, 24K, 18K Gold & Silver Rates in Delhi on 2April

Gold Price Today, April 3: 22K, 24K Rates Jump Across Tanishq, Malabar, Kalyan & Joyalukkas & IBJA

5 New Shares On One Soon: Anil Agarwal's Vedanta Demerger To Take Place in April, Says Report

Fresh Drop in Gold Rate Today; Silver Stable: Latest 22K, 24K, 18K Gold & Silver Prices in Delhi on 30 March

Govt Approves PDS Kerosene Distribution in 21 States for 60 Days, Sets 5,000 L Storage Limit Amid LPG Crisis



Click it and Unblock the Notifications