Nokia vs DCIT: Delhi HC Directs department to expediate Income Tax refund

Nokia Corporation Vs DCIT (Delhi High Court) Introduction: The Delhi High Court has provided an update on the matter of Nokia Corporation vs DCIT, showcasing progress in the verification and refund process. This case pertains to the assessment years 1997-1998 to 2002-2003, with Nokia claiming a principal sum of Rs. 29,06,95,383/-. The court’s recent directives indicate a partial verification of Rs. 22,46,83,682/- and instructions for remittance based on an indemnity bond for the verified amount. Refund Verification Progress: The court notes that a substantial part of the principal amoun...