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TMI Blog2022 (11) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... m 01/04/2021 i.e. commencing from A.Y.2021-22 onwards which categorically states that dividends received on or after 01/04/2020 alone would be subjected to tax. In the instant case, admittedly dividend has been received by the assessee during the F.Y.2019-20 relevant to A.Y.2020-21. Hence, there is no case for taxing the said dividend income during the year under consideration. Accordingly, we dir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tax Act, 1961 (hereinafter referred to as Act) dated 10/01/2022 by the ld. ADIT, CPC, Bangalore (hereinafter referred to as ld. AO). 2. The only issue to be decided in this appeal is as to whether the ld. CIT(A) was justified in treating the dividend income as not exempt u/s.10(34) of the Act for the year under consideration. The interconnected issue involved therein is whether the ld. CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion, the assessee filed a rectification application u/s.154 of the Act. However, the CPC upheld its earlier action and dismissed the rectification application. Aggrieved by that the assessee filed an appeal before the ld. CIT(A). The ld. CIT(A) upheld the action of the ld. CPC in treating the dividend income of Rs.2,46,559/- as taxable for the year under consideration. The ld. CIT(A) also observe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2020 other than the dividend on which tax under section 115-O and section 115BBDA, wherever applicable, has been paid] 5. From the perusal of the aforesaid provisions, we find that the second proviso is incorporated only from 01/04/2021 i.e. commencing from A.Y.2021-22 onwards which categorically states that dividends received on or after 01/04/2020 alone would be subjected to tax. In the ins ..... X X X X Extracts X X X X X X X X Extracts X X X X
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