2016 (11) TMI 1735

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....espondent : Mr Rupesh Jain and Mr. Anshul Sachar, Advs.  ORDER The question of law urged in this appeal under Section 260A of the Act is as to whether in the circumstances of the case, invocation of proviso to Section 112(1) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) by the Income Tax Appellate Tribunal (ITAT) in applying the lower tax @ 10% was justif....

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....nd imposed a higher rate of tax @ 20%. The Dispute Resolution Panel (DRP) held that the ruling of this Court in Kairn UK Holdings Ltd. v. Director of Income-tax (2013) 359 ITR 268 (Del) was applicable and accordingly reduced the assessee's liability by applying the proviso to Section 112(1) of the Act. The ITAT confirmed that ruling. The learned counsel urged that the proviso to Section 112(1) ....