https://www.taxtmi.com/caselaws?id=752905 The Tribunal allowed the appeal filed by the Assessee, directing the Revenue to credit the Dividend Distribution Tax (DDT) of Rs. 6,79,800 paid on 27/08/2014 in Assessment Year (A.Y.) 2015-16 and withdraw the credit claimed in the return for A.Y. 2014-15. This decision rectified the incorrect accounting of DDT, aligning it with the financial year in which the payment was made, as per Section 115-O(3). The Tribunal's ruling overruled the CIT(A)'s rejection of the rectification application under Section 154, ensuring compliance with the correct assessment year for DDT accounting. en-us Fri, 17 May 2024 00:00:00 +0530 Tue, 21 May 2024 08:21:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752905 The Tribunal allowed the appeal filed by the Assessee, directing the Revenue to credit the Dividend Distribution Tax (DDT) of Rs. 6,79,800 paid on 27/08/2014 in Assessment Year (A.Y.) 2015-16 and withdraw the credit claimed in the return for A.Y. 2014-15. This decision rectified the incorrect accounting of DDT, aligning it with the financial year in which the payment was made, as per Section 115-O(3). The Tribunal's ruling overruled the CIT(A)'s rejection of the rectification application under Section 154, ensuring compliance with the correct assessment year for DDT accounting. Case-Laws Income Tax Fri, 17 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752905