https://www.taxtmi.com/caselaws?id=404441 Dividend received from the overseas joint venture OMIFCO-Oman was chargeable to tax in India in principle, but treaty relief under section 90 of the Income-tax Act, 1961 applied under the Indo-Oman arrangement. Following its earlier view in the assessee's own case, the ITAT Delhi held that the dividend did not constitute exempt income for section 14A purposes. The exclusion of that dividend from the section 14A disallowance computation was therefore proper, and the Revenue's challenge failed. en-us Wed, 06 Jan 2021 00:00:00 +0530 Tue, 29 Oct 2024 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404441 Dividend received from the overseas joint venture OMIFCO-Oman was chargeable to tax in India in principle, but treaty relief under section 90 of the Income-tax Act, 1961 applied under the Indo-Oman arrangement. Following its earlier view in the assessee's own case, the ITAT Delhi held that the dividend did not constitute exempt income for section 14A purposes. The exclusion of that dividend from the section 14A disallowance computation was therefore proper, and the Revenue's challenge failed. Case-Laws Income Tax Wed, 06 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404441