Himalayan News Service

Kathmandu, January 22

The Supreme Court today ordered the Inland Revenue Office Simara and the Revenue Tribunal Kathmandu to determine the income tax of any individual or industry according to the Income Tax Act 2058 BS.

A three member Bench comprising judges Hari Prasad Sharma, Bhairav Prasad Lamsal and Min Bahadur Rayamajhi had issued the order.

The order came as a response to a plea filed by the Arati Soap and Chemicals Industry against the Inland Revenue Office Simara and Kathmandu Revenue Tribunal, which had rejected a plea by the company to determine income tax as per the new Income Tax Act 2058.

Shyam Kumar Lohiya, the director of the industry had moved the apex court accusing the defendants of misinterpreting the Income Tax Acts and imposing tax as per the Income Tax Act 2031 which has already been replaced by Income Tax Act 2058.