The Supreme Court in its order said the Castleton matter is now laid to rest as the government has agreed to abide by the MAT circular. Post this, no dispute remains in the Castleton case, the apex court said.
Pratibha Jain, Partner of Nishith Desai Associates said when Justice AP Shah recommendations are made public, there won't be any difficulty in reading what he sought and what the government accepted.
CNBC-TV18 has learnt that the government which is considering Justice AP Shah committee's report on minimum alternate tax (MAT), is going to take a final decision on the same soon.
It has been one of the most eagerly awaited reports, in recent history. Justice AP Shah Committee is ready with its final report on the minimum alternate tax (MAT) issue.
The Panel may be a three-member body and may have two tax experts as members. It may not have any government nominee and future tax issues may be referred to it.