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The Supreme Court has postponed a hearing on the Castleton case that related to the question of applicability of minimum alternate tax (MAT) on foreign companies.
The apex court will now hear the matter on September 29, sources said.
The hearing – which was scheduled for Tuesday — had to be postponed in the wake of Government seeking more time to firm up its stance after analysing the findings of the A.P. Shah headed Panel report.
The A.P. Shah Panel had submitted its 66-page report (on levy on MAT on foreign institutional investors) to the Government on July 24.
Mauritius-based Castleton had approached the Supreme Court against a 2012 ruling by the Authority for Advance Rulings (AAR), which had said the company would have to pay MAT on capital gains arising from sale of shares.
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