Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (2) TMI 1225 - AT - Income TaxDeduction u/s 80-IA - contracts entered with non- government entities - admission of additional evidences submitted by the assessee - HELD THAT:- As we have admitted the additional evidences, without going into the merits of the additional evidences, we restore the issue before the learned CIT (A) to examine these evidences and decide the issue of allowability of claim of deduction u/s 80IA of the Act with respect to the additional evidences. This is also so for the reason that the disallowance is confirmed for one of the reasons being non-production of the contracts. Disallowance u/s 36(1)(va) - delay in depositing employee’s contribution beyond the due dates prescribed under the respective Act - HELD THAT:- This ground is already decided by the learned CIT (A) against the assessee relying on the decision of the Hon'ble Supreme Court in CHECKMATE SERVICES P. LTD.[2022 (10) TMI 617 - SUPREME COURT]. In absence of any argument by the learned Authorized Representative, same is dismissed. Levy of Dividend distribution tax (DDT) at the rate of 20.36% u/s 115O - claim of assessee that it should have been levied at the rate of 15% in terms of Article 10 of DTAA between India and Thailand - HELD THAT:- As AR fairly admitted that this issue is decided against the assessee by the Special Bench in case of Total Oil Limited [2023 (4) TMI 988 - ITAT MUMBAI (SB)] where it is held that dividend distribution tax is an additional tax charged on the distributed profits of the company and not on the shareholder. The learned Departmental Representative also agreed with the same. As decision of Total oil Limited [SB] has held that shareholders have nothing to do with the levy of DDT on distributed profits of the company. List of shareholders, their beneficial interest in the dividend and residential status of the shareholder as per DTAA are not produced before us. It has also not been established before us that even otherwise the claim is in time or not and further whether the sources country [India] has to cede its right of taxation or not. Therefore, all these issues remain unexamined at all stages.
|