https://www.taxtmi.com/caselaws?id=448545 The Tribunal dismissed the appeal of the assessee, upholding the decision of the NFAC to deny a refund of the Dividend Distribution Tax (DDT). The Tribunal relied on a Special Bench decision, which clarified that the additional income tax on dividends to non-resident shareholders should be at the rate specified in section 115-O of the Income Tax Act, not the rate in the Double Taxation Avoidance Agreement (DTAA). The Tribunal concluded that treaty protection under DTAA is only applicable if explicitly intended by the Contracting States, thus supporting the NFAC's stance. en-us Tue, 28 Nov 2023 00:00:00 +0530 Sun, 21 Jan 2024 22:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448545 The Tribunal dismissed the appeal of the assessee, upholding the decision of the NFAC to deny a refund of the Dividend Distribution Tax (DDT). The Tribunal relied on a Special Bench decision, which clarified that the additional income tax on dividends to non-resident shareholders should be at the rate specified in section 115-O of the Income Tax Act, not the rate in the Double Taxation Avoidance Agreement (DTAA). The Tribunal concluded that treaty protection under DTAA is only applicable if explicitly intended by the Contracting States, thus supporting the NFAC's stance. Case-Laws Income Tax Tue, 28 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448545