Home Highlights March 2012 Year 2012 This

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1. Disallowance of education cess on income tax and dividend distribution tax u/s 40(a)(ii) - Assessee has fairly conceded that as per amendment vide Finance Act, 2022...

2. Addition on account of short deposit of Dividend Distribution Tax (DDT) - we do not find mention of any of the provisions of the income tax act which provides that short...

3. Credit of Dividend Distribution Tax u/s 115-O - The AO, in preparing the statement of assessed total income, computed the DDT payable but did not adjust the DDT already...

4. Refund of excess Dividend Distribution Tax - additional income tax payable by the domestic company shall be at the rate mentioned in section 115-O of the Act and not at...

5. Rate of tax payable on Dividend Distribution Tax (DDT) - Distribution of dividends to its share holders (Germany) (Non-residents) - the additional income tax payable by...

6. Refund of excess dividend distribution tax - it is not in dispute that the wholly owned subsidiary company had duly remitted the dividend distribution tax on the interim...

7. Disallowance of demurrage charges and reimbursement of salary paid to seconded employees on account of non-deduction of tax at source was dismissed, following coordinate...

8. Application of Dividend Distribution Tax to Deemed Dividend

9. Addition u/s 2(22) - Deemed dividend - the amount in the nature of capital or not - dividend was declared before liquidation and dividend distribution tax was paid u/s....

10. Refund of excess Dividend Distribution Tax (“DDT”) paid by the assessee - wherever the Contracting States to a tax treaty intend to extend the treaty protection to the...

11. Taxability of dividends - dividend is declared, distributed or paid by a domestic company to a non-resident shareholder(s) - The Tribunal held that, additional income...

12. Set off of deemed dividend against actual dividend paid by certain companies - dividend distribution tax as per section 115-O is in respect of dividend covered u/s...

13. The assessee claimed deduction of expenditure incurred for handling and disposal of spent solvents/scrap against unaccounted cash receipts from their sale. The ITAT held...

14. Tax planning versus Tax Avoidance - distribution of dividend, prior to sale of its shares by the assessee, even though tax advantageous cannot be termed as a colourable...

15. Maintainability of appeal - ITAT dismissed the appeal on the ground of low tax effect being less than 10 lakhs - Board Circular No.21/2015 - Determination of tax effect...