Malayan Banking today failed in its bid to challenge a notice of increased assessment slapped on it by the Internal Revenue Board (LHDN) for the years 2014 to 2017, totalling more than RM30 million for all four years.
A three-member Federal Court bench led by Chief Justice Tengku Maimun Tuan Mat rejected the bank’s judicial review application, confirming an earlier decision by the appeals court.
Counsel for LHDN Hazlina Hussain argued that there was no question of invalidity, violation of laws or extraordinary circumstances to allow a judicial review, citing precedents in previous cases.
Malayan Banking is represented by lead counsel Palpanaban Devarajoo, as well as S Saravana Kumar and Ng Kar Ngai.
The apex court also instructed the bank to settle all outstanding and overdue taxes within 30 days.