Shah panel to be 3-member; focus on MAT to begin with: Govt

A high-level committee headed by Justice AP Shah to resolve several tax tussles will have three members in it and will start by evaluating the minimum alternate tax (MAT) row, the government today said.

The formation of the panel, which will include chartered accountant Girish Shah and former chief economic advisor Ashok Lahiri besides Justice Shah, was announced by finance Minister Arun Jaitley when he was replying to a question in Rajya Sabha on May 7.

"To begin with, the committee will examine the matter relating to levy of MAT on FIIs for the period prior to 01.04.2015," the government said in a release. "The committee will examine all the related legal provisions, judicial/quasi judicial pronouncements and such other relevant aspects as it may consider appropriate."

Other issues that will be referred to the committee will be notified in due course, it added.