Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Electronic Postal Bill of Export templates mandating specified data fields for postal export declarations; system-generated Let Export Order on public...
HC allowed the appeal, set aside the AAR ruling, and held that DDT is, in pith and substance, a tax on dividend income of the shareholder, though collected from the distributing company. Consequently, DDT falls within the scope of "tax on dividends" under Article 11 of the India-UK DTAA. By virtue of Section 90(2), the Appellant is entitled to apply the more beneficial treaty rate, limiting Indian tax on such dividends to 10%. Retention of DDT collected in excess of 10% is impermissible. The Department is, however, permitted to gross up the tax appropriately.
HC allowed the appeal, set aside the AAR ruling, and held that DDT is, in pith and substance, a tax on dividend income of the shareholder, though collected from the distributing company. Consequently, DDT falls within the scope of "tax on dividends" under Article 11 of the India-UK DTAA. By virtue of Section 90(2), the Appellant is entitled to apply the more beneficial treaty rate, limiting Indian tax on such dividends to 10%. Retention of DDT collected in excess of 10% is impermissible. The Department is, however, permitted to gross up the tax appropriately.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
