The CBDT has issued a letter dated 11th May 2015 on the issue of “Imposition of Minimum Alternate Tax (MAT) on foreign companies particularly FIIs“. The CBDT has stated that in the light of the constitution of the Justice A. P. Shah Committee to look into the issue of applicability of MAT and the statement made by the Finance Minister on the issue in the Rajya Sabha, no coercive action should be taken for recovery of demand already raised. It is also stated that issue of fresh notices for reopening of cases and completion of assessment should also be put on hold unless the case is getting barred by limitation.
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