CA Girish Ahuja named member of Shah panel on MAT

Constituting the three-member A P Shah Committee that will look into MAT demand on FIIs, the government today named former CEA Ashok Lahiri as a member of the panel which will "expeditiously" suggest ways to resolve the dispute.

The Finance Ministry also said other tax issues would be also referred to the three-member committee in due course. Renowned CA Girish Ahuja is the third member of the panel, whose term is one year.

The Income Tax Department had sent notices to 68 foreign institutional investors (FIIs) demanding Rs 602.83 crore as MAT dues of previous years. This has raked up a big controversy, with FIIs moving higher court challenging the MAT demand.