Reduction of dividend tax base when subsidiary dividends received and taxed, subject to non-subsidiary status and single reduction. A new sub-section allows the amount in sub-section (1) to be reduced by dividends received from a subsidiary where the subsidiary has paid tax under the provision and the recipient domestic company is not a subsidiary of any other company, with a proviso preventing double reduction and an explanation defining subsidiary as one in which another company holds more than half the nominal equity share capital.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reduction of dividend tax base when subsidiary dividends received and taxed, subject to non-subsidiary status and single reduction.
A new sub-section allows the amount in sub-section (1) to be reduced by dividends received from a subsidiary where the subsidiary has paid tax under the provision and the recipient domestic company is not a subsidiary of any other company, with a proviso preventing double reduction and an explanation defining subsidiary as one in which another company holds more than half the nominal equity share capital.
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