Parent Company Entitled to Refund for Excess Dividend Tax Payment, Contrary to Section 115O(1A) of Income Tax Act.

Parent Company Entitled to Refund for Excess Dividend Tax Payment, Contrary to Section 115O(1A) of Income Tax Act. https://www.taxtmi.com/highlights?id=68880 Refund of excess dividend distribution tax - it is not in dispute that the wholly owned subsidiary company had duly remitted the dividend distribution tax on the interim dividend declared by it to the assessee company. - the action of the lower authorities in the instant case is clearly contrary to the provisions of Section 115O(1A) - we hold that assessee is entitled as per the Act to seek refund in respect of excess payment of dividend distribution tax. - AT en-us Thu, 23 Mar 2023 10:46:30 +0530 Thu, 23 Mar 2023 10:46:30 +0530 TaxTMI RSS Generator Parent Company Entitled to Refund for Excess Dividend Tax Payment, Contrary to Section 115O(1A) of Income Tax Act. https://www.taxtmi.com/highlights?id=68880 Refund of excess dividend distribution tax - it is not in dispute that the wholly owned subsidiary company had duly remitted the dividend distribution tax on the interim dividend declared by it to the assessee company. - the action of the lower authorities in the instant case is clearly contrary to the provisions of Section 115O(1A) - we hold that assessee is entitled as per the Act to seek refund in respect of excess payment of dividend distribution tax. - AT Highlights Income Tax Thu, 23 Mar 2023 10:46:30 +0530 https://www.taxtmi.com/highlights?id=68880