Ncell has been in the dispute with the authority on different topics from time to time, whether it’s about the Tax or people campaign to boycott Ncell SIM. This time around, the matter seems to be settled as the Supreme Court has directed Ncell to pay NRs 21,10,00,00,000 (21 Arba 10 crore) as the Capital Gain Tax (CGT).
Earlier Large Taxpayers’ Office (LTO) had determined Rs 62,63,00,00,000 (62 crore 63 Arba) as the capital gain tax. On which Ncell had already paid Rs 23,57,00,00,000 (23 Arba 57 crore) as CGT. The LTO stated that Ncell still had to pay the remaining amount Rs 39,06,00,00,000 (39 Arba 6 crore). Unsatisfied with the decision of LTO, Ncell moved to Supreme Court against LTO. Ncell claimed that they needed to pay Rs 17,95,00,00,000 (17 Arba 95 crore) only.
As per the Full-Text Verdict released today, now Ncell has to pay Rs 21,10,00,00,000 (21 Arba 10 crore) only. According to the Himalayan Times, ‘An extended bench of justices Tej Bahadur KC, Purushottam Bhandari, Dambar Bahadur Shahi, Sushmalata Mathema and Manoj Kumar Sharma took a decision to this effect and reduced the payable tax amount by Rs 18 crore.’