2026 (8) TMI 1183

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....: Shri Anjay Soneji, Sr. DR ORDER PER SAKTIJIT DEY, VICE PRESIDENT: Captioned appeal by the assessee arises out of order dated 20.02.2026 passed by National Faceless Appeal Centre ('NFAC' for short), Delhi for the assessment year (A.Y. for short) 2020-21. 2. As could be seen from the grounds raised, the solitary issue for consideration is regarding the applicable rate on dividend distr....

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....ot consider the claim of the assessee. 3. Hence, the assessee in the appeal before learned first appellate authority reiterated the claim. However, learned first appellate authority did not interfere with the decision of the A.O. 4. We have heard the parties and perused the materials on record. Before us, ld. Counsel appearing for the assessee submitted that though in case of Dy. CIT v. Tota....

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....partment against the aforesaid judgment of the Hon'ble Bombay High Court, the Hon'ble Supreme Court has advised the High Courts to consider staying further proceedings relating to any matter involving similar issue. Without prejudice, he submitted, various benches of the Tribunal following the decision of the Hon'ble Bombay High Court in case of Colorcon Asia Pvt. Ltd. (supra) has deci....

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....in others decision of the co-ordinate benches cited by ld. Counsel for the assessee it has been held that the applicable rate on DDT has to be in alignment with the rate prescribed for dividend under the relevant DTAAs, in case, the rate in DTAAs are less than the rate prescribed u/s. 115-O of the Act, however, we have to bear in mind that challenging the judgment of Hon'ble Bombay High Court ....