Surya Tobacco case verdict deferred

KATHMANDU: The Supreme Court today postponed its verdict on the 12-year-old Surya Tobacco corruption case.

The verdict was postponed since Justice KC could not attend office due to illness. SC will now issue the verdict on August 2.

In a controversial verdict, the apex court had given the company a clean chit more than a decade ago in 1996. Surya Tobacco Company has been charged for evading tax amounting to Rs 180 million.

The apex court had ruled: Since the notes (explanatory provision) contained in the Financial Act are not legal, a taxpayer is not bound to pay the tax.

A division bench of justices Hari Prasad Sharma and Harischandra Prasad Upadhyaya had redeemed the company.

The government had moved the apex court, seeking its view on the decade-old verdict.

Ex-royals own shares

in Surya Tobacco Company (Pvt) Ltd.