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2024 (7) TMI 778 - AT - Income TaxRefund of excess Dividend Distribution Tax ( DDT ) paid on dividend received by the Appellant - HELD THAT - As decided in Total Oil India (P.) Ltd. 2023 (4) TMI 988 - ITAT MUMBAI (SB) dividend is declared distributed or paid by a domestic company to a non-resident shareholder(s) which attracts Additional Income-tax (Tax on Distributed Profits) referred to in section 115-O such additional income tax payable by the domestic company shall be at the rate mentioned in section 115-O and not at the rate of tax applicable to the non-resident shareholder(s) as specified in the relevant DTAA with reference to such dividend income. Thus wherever the Contracting States to a tax treaty intend to extend the treaty protection to the domestic company paying dividend distribution tax only then the domestic company can claim benefit of the DTAA if any. Thus the question answered accordingly. Applicability of transfer pricing regulations to the assessee to the extent of operations carried out through operating qualifying ships where the income is taxed under TTS - HELD THAT - The issue is covered in favour of assessee s own case 2019 (12) TMI 815 - ITAT MUMBAI A.Y. 2010-11 2019 (6) TMI 1238 - ITAT MUMBAI A.Y. 2007-08 as held that provisions of chapter-X have been invoked to alter an expenditure namely the mobilisation and demobilisation charges paid for a qualifying ship an item which has no bearing on the income as computed under Chapter XII-G and accordingly the provisions of Chapter-X have no application in computing the income of the assessee chargeable to tax as per Chapter XII-G. In view of the aforesaid discussion the transfer pricing regulations do not apply to the assessee in taxed under TTS.
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