KATHMANDU: The Supreme Court (SC) on Monday put an end to a longstanding tax row between Ncell and the Large Tax Payers Office (LTPO) annulling the latter’s decision to collect Rs 62.6 billion capital gains tax. Out of the determined tax, Ncell was due to pay Rs 39 billion.
Hearing a writ petition by the private telecommunication company, the apex court maintained that tax office should collect capital gains tax from the company only from the day it found out that it was entitled to pay the tax.
Advocate Ramesh Ghimire on behalf of Ncell had filed a writ at the apex court on May 8 demanding the court’s order to waive the tax determined. The writ had argued that Rs 14 billion should be determined as tax.
The case was heard by a broader full bench of the apex court comprising Justices Tej Bahadur KC, Purusottam Bhandari, Dambar Bahadur Sahi, Puspalata Mathema and Dr. Manoj Kumar Sharma.
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