2025 (2) TMI 1784

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.... in law the AO /DRP have erred in not adjudicating upon the claim raised by the appellant vide letter dated 12th February 2021 filed before the AO during the course of assessment. 2. the appellant prays that the Dividend Distribution Tax (DDT) of Rs. 20,92,13,661/- paid under section 115O of the Act at the rate of 20.56% on dividends declared and paid by the appellant to its foreign shareholders is in excess by Rs. 11,36,38,065/- of the applicable rates provided under the provisions of relevant DTAA's. 3. That the appellant craves to add, amend, modify or alter the ground of appeal. " 2. Brief facts of the case are that the assessee company i.e. Xerox India Limited is the Indian subsidiary of Xerox US, based in Gurgaon,....

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.... iii. Reduction in profit because of application of Income Computation Disclosure Standards 4. Further, the assessee company has filed return of income for A.Y. 2020-21 on 12.02.2021 declaring total income at Rs. 25,18,36,530/- The assessee company has also filed Form 3CEB on 24.12.2020 in which it has shown Aggregate value of international transactions of Rs. 325,37,51,386/-. In order to examine the issue with regard to Large aggregate value of international transactions of Rs. 325,37,51,386/-, the case was referred to Transfer Pricing Officer for determination of Arm's Length Price after taking necessary approval from the Competent Authority. Subsequently, the DCIT TP-3(3)(2), New Delhi passed order u/s. 92CA(3) of the Act dated ....

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.... Rs. 11,36,38,065/- deposited as DDT be deserve to be refunded to the company. The Ld. AR also submitted that the assessee company acknowledges the fact that it is requires the claim for refund should be made only by furnishing ROI in accordance with the provisions of section 239 of the Act and however, considering that the ROI form utility does not provide for any mechanism to claim refund of DDT resulting from reduction of rate of DDT and in such a circumstances assessee company filed application u/s 237 of the Act outlining the issue with respect excess DDT paid and claim refund of such excess. 8. The Ld. DR has relied upon the orders of the authorities below. 9. In this regard, Hon'ble Special Bench in the case of Total Oil India ....