Indian authorities dismissed Nokia’s appeals over an income tax demand of 20.8 billion Indian rupees ($370 million), the phone company said, a setback for its efforts to resolve the dispute in a crucial market.
Nokia’s India unit was served in March with the tax demand for five years starting from 2006/07, in one of several tax disputes involving a foreign company in India.
The Finnish phone company said on Friday that it will examine all options, including taking the case back to the Delhi High Court. ($1 = 56.2450 Indian rupees)
Source : Reuters