Kathmandu- The Supreme Court has ordered the Large Tax Payers’ Office to determine and recover capital gain tax from telecom service provider, Ncell within three months. The order was issued today in the full judgement of mandamus issued by the extended full bench of the apex court last February.
The mandamus had been issued by an extended bench of Chief Justice Cholendra Shumsher JB Rana and justices Dr Ananda Mohan Bhattarai, Tanka Bahadur Moktan, Biswambhar Prasad Shrestha and Meera Khadka. The judgement also puts a hold on the distribution of bonus and selling of shares of the company until it fulfills its tax liabilities.
It may be noted that the Large Tax Payers Office had informed to the apex court that Ncell had to pay Rs. 60.71 billion in capital gain tax in 2017. Of that amount, the company has so far paid Rs. 21.54 billion including late fee worth Rs. 2 billion to the Office.