KATHMANDU, FEBRUARY 07
The Supreme Court has issued an interim order not to collect tax from private telecommunication service provider, Ncell.
On Sunday, a single bench of Justice Prakash Kumar Dhungana issued an interim order in the name of the Inland Revenue Department not to collect taxes immediately.
Ncell had filed a writ at SC after the Large Taxpayers' Office issued a letter to the company reassessing the applicable tax amount.
According to Article 57 of the Income Tax Act, capital gains tax of Rs 60 billion was assessed on the change of ownership of Ncell.
After the issue of capital gains tax was settled, LTO has raised the issue of tax levied on change of ownership control.
A version of this article appears in the print on February 8, 2021, of The Himalayan Times.