PUTRAJAYA: The Court of Appeal has granted an oil and gas company a stay order in relation to the payment of tax assessed at almost RM900 million.
Lee, who sat with Justices Ruzima Ghazali and Azizul Azmi Adnan, said the company also had a good tax payment record. In May, Shell Gas filed a leave application in the High Court, naming the finance minister as respondent. Shell Gas contends that the gains are capital receipts and are not taxable. The company says this is especially so given that it had owned the shares for about 22 years as an investment.
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