https://www.taxtmi.com/caselaws?id=277125 The Tribunal partially allowed both the Revenue's appeal and the assessee's Cross Objection. The Tribunal upheld that the amount attributable to accumulated profits of the company would be considered as dividend income under section 2(22)(d) of the Income Tax Act. However, it also ruled that this dividend income would be exempt under section 10(34) read with section 115-O of the Act. The Tribunal clarified that the dividend would be subject to additional income tax under section 115-O in the hands of the paying company. en-us Tue, 31 Dec 2013 00:00:00 +0530 Mon, 26 Nov 2018 12:05:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277125 The Tribunal partially allowed both the Revenue's appeal and the assessee's Cross Objection. The Tribunal upheld that the amount attributable to accumulated profits of the company would be considered as dividend income under section 2(22)(d) of the Income Tax Act. However, it also ruled that this dividend income would be exempt under section 10(34) read with section 115-O of the Act. The Tribunal clarified that the dividend would be subject to additional income tax under section 115-O in the hands of the paying company. Case-Laws Income Tax Tue, 31 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277125