First Business News Portal in English from Nepal
KATHMANDU: Ncell has filed a writ petition at the Supreme Court against preparation of the government to assess Rs 60 billion tax to the telecom company.
Based on Article 57 of the Income Tax Act, Ramesh Ghimire, on behalf of Ncell, filed the writ petition against the Ministry of Finance, Inland Revenue Department and the Large Taxpayer’s Office.
Ncell had reached the court following LTO’s notification that it is assessing tax on Ncell applicable while transferring Ncell’s ownership four years ago. Hearing on this case is being looked by a bench led by justice Ananda Mohan Bhattarai.
The LTO has set tax worth Rs 60 billion on Ncell citing that the tax is applicable while divesting ownership of Ncell. Though the long-standing CGT issue of Ncell was settled by the Supreme Court, another tax issue of the telecom company has again entered the court.
In case the Supreme Court does not issue an interim order by December 12, a letter of tax assessment worth Rs 60 billion will be sent to Ncell. Instead of responding to the initial notice given by the LTO, Ncell had filed the writ at the court.
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