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2024 (3) TMI 1257 - AT - Income TaxRefund of excess dividend Distribution Tax (DDT) paid - rate of dividend distribution tax in relation to the dividend paid to its parent company should be circumscribed to 5% against the rate of 20.359% provided for u/s 115-O since the same was covered by the DTAA between Netherland & India - HELD THAT:- Since, in the case of the assessee contracting states has not extended treaty protection to domestic company paying dividend distribution tax therefore, after following the decision of Total Oil (P) Ltd [2023 (4) TMI 988 - ITAT MUMBAI (SB)] dividend distribution tax would be payable at the rate mentioned in Sec. 115-O of the Act and not at the rate of tax applicable to non-resident shareholders as specified. Therefore, this ground of appeal of the assessee is dismissed. Short grant of credit of Tax Deducted at Source (TDS) - in the order passed u/s 143(3) AO has granted TDS credit less than TDS claimed made by the assessee - HELD THAT:- After hearing both the sides and perusal of the material on record, we restore this issue to the file of the assessing officer for deciding afresh after verification of the detail filed by the assessee. Therefore, this ground of appeal is allowed for statistical purposes.
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