2017 (3) TMI 1187 - SCH - Income Tax

Dividend income received from a foreign country - exemption from taxation - DTAA between Government of India and Government of the foreign country - Held that - Issue has been decided against the Revenue by this Court in Civil Appeal No.4485 of 2007 in the case of Dy. Commr. Of Income Tax, Ujjain vs. M/s. Torqouise Investment & Finance Ltd. 2008 (2) TMI 426 - SUPREME Court wherein held dividend income derived by the assessee from a company in Malaysia is not liable to be taxed in the hands of the assessee in India under any of the provisions of the Act. - Decided in favour of assessee.

Summary

The Supreme Court upheld the High Court's order stating that dividend income from a foreign country is exempt from taxation under the Double Taxation Avoidance Agreement. The appeal was dismissed with no costs.