2021 (12) TMI 1545

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...., standing counsel. ORDER C.M.No.44027/2021 Exemption allowed, subject to all just exceptions. Accordingly, the application stands disposed of. W.P.(C) No.13962/2021 Present writ petition has been filed challenging the order dated 6th October, 2021 passed by the Respondent. Petitioner also seeks a direction to Respondent to apply the tax rate on dividend prescribed under India-Ja....

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....the Petitioner, and an application was filed under Section 264 of the Act on 28th November, 2019, which was rejected by the impugned order. Learned counsel for the Petitioner states that Dividend Distribution Tax (DDT) is a tax on dividend, which is income of the shareholder, who is a tax resident of Japan and hence the provisions of the India-Japan DTAA would be squarely applicable. He submits....

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....115-O has to be restricted to the rate provided under DTAA. He states that the interpretation, which Revenue has sought to place upon Section 115-O, could never be the intent of the Parliament as it would amount to breach of international law / obligations agreed under DTAA. Issue notice. Mr. Sunil Agarwal, standing counsel accepts notice on behalf of the respondent. He submits that the matter ....