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Court seeks valuation of Nokia India assets in tax case

Friday 14 March 2014 | 02:23 CET | News
India's Supreme Court is seeking a valuation of the assets of Nokia India before examining the dispute between Nokia and the country's tax department. The income tax department claims that Microsoft's plans to buy Nokia India's assets without acquiring its liabilities will adversely affect its tax claims over the company and its parent company. The tax department says this could run into INR 212.51 billion. Although Nokia told the court the value of the assets are around INR 22 to 33 billion, the court wants a valuation report made by experts, the Econimic Times writes.

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Categories: Mobile & Wireless
Companies: Microsoft / Nokia
Countries: India
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