Both parties had opted for an out-of-court settlement.
The Federal Inland Revenue Service (FIRS) on Tuesday sought to get expert clarification on Oando Plc’s claim of settlement of its N61.52 million tax liability.
In November 2012, Oando took FIRS to the Tax Appeal Tribunal sitting in Abuja for refusing to amend its tax assessment of N61.52 million for 2004.
At the last adjournment, both parties agreed on out- of- court settlement and were supposed to report back to the tribunal on Tuesday.
At the resumed sitting on Tuesday the counsel to the FIRS, Bright Igbinosa, told the tribunal that before commencement of proceedings the appellant presented a document suggesting that the out-of-court settlement had had been effected.
He said he could not interpret the document and had to seek advice from professional tax officers from FIRS to confirm the authenticity of the document.
The counsel to the respondent, therefore, prayed the tribunal to give him more time to carry out the consultation.
Olumayowa Oluwole, the counsel to the appellant, who affirmed the position of the settlement as claimed by Mr. Igbinosa, said he had no objection to the prayer.
Nnamdi Ibegbu, the acting chairman of the tribunal, adjourned the case to Oct. 7 for consideration of the out- of- court settlement report.
(NAN)
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