Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (9) TMI 1218 - ITAT KOLKATARevision u/s 263 by CIT - payment of Dividend Distribution Tax - CIT has held that dividend was declared as per Section 115O & 115P of the Act but the assessee failed to deposit such tax and interest has not been demanded/quantified in the assessment order and omission to do so resulted in non-levy of Dividend Distribution Tax on the total amount of dividend declared - HELD THAT:- Even though the assessee has claimed that all the details have been filed before the AO which as per ld. Pr. CIT has not been considered but even otherwise when these details were filed before ld. Pr. CIT, he ought to have considered the same and drop the revisionary proceedings. Therefore, since the issue raised by ld. Pr. CIT relates to payment of Dividend Distribution Tax for AY 2017-18 which as per ld. Pr. CIT ought to have been deposited subsequent to the completion of financial year, we under the given facts and circumstances of the case notice that the assessee has deposited the Dividend Distribution Tax before the close of FY 2016-17 relevant to AY 2017-18 and therefore, the accounting treatment and the details of Dividend Distribution Tax were duly incorporated in the return for AY 2017-18 filed on 31.10.2017 and therefore, ld. Pr. CIT erred in raising the alleged issue in the show cause notice u/s 263 of the Act for AY 2018-19. Appeal of assessee allowed.
|