<h1>Govt to Amend Section 115JB: MAT Exemption for FIIs/FPIs Without Permanent Establishments Pre-April 2015. CBDT Suspends Assessments.</h1> A committee on direct tax matters, chaired by Justice A.P. Shah, recommended amending Section 115JB of the Income Tax Act to clarify that Minimum Alternate Tax (MAT) does not apply to Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) without a permanent establishment in India for periods before April 1, 2015. The government accepted this recommendation, and the Central Board of Direct Taxes (CBDT) has instructed field authorities to suspend pending assessments and refrain from recovering outstanding demands in such cases, pending legislative amendment.