KUALA LUMPUR (April 11): Tenaga Nasional Bhd (KL:TENAGA) said the hearing of its application for leave to proceed with a judicial review over a RM291.55 million income tax bill has been postponed from April 14 to June 30.
The High Court, which fixed the new date on Friday, also extended the interim stay on all further proceedings, including the enforcement of the notice issued by the Inland Revenue Board, until the disposal of the leave application, said TNB in a filing with Bursa Malaysia.
The notice for the RM291.55 million tax bill, for the year of assessment 2018, was issued to TNB's wholly owned unit TNB Western Energy Bhd (TNB WE) on Dec 10 last year, according to a previous filing by TNB.
TNB WE subsequently filed the judicial review application, seeking to challenge matters arising from the tax assessment, and the court fixed April 14 to hear the leave application.
For judicial review proceedings, an applicant must first obtain leave from the court before the merits of the application is heard.
TNB has also gone to court to challenge another tax bill totalling RM1.39 billion for additional assessments covering the years 2020 (RM685.8 million) and 2021 (RM705.2 million).
TNB's share price closed down eight sen or 0.6% at RM13.22 on Friday, giving the utility giant a market capitalisation of RM76.85 billion.