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Wipro Limited, Bangalore vs Assistant Commissioner Of Income Tax, ... on 14 June, 2023 IN THE

been submitted that the same is subject to tax u/s. 115BBD of the Act. We find that principally we are in agreement with

therefore, same are not exempt but are chargeable to tax under Section 115BBD of the Act. The learned Assessing Officer rejected the contention

therefore, same are not exempt but are chargeable to tax under Section 115BBD of the Act. The learned Assessing Officer rejected the contention

Commissioner of lncome Tax VS M/S Elgie After section 115BBD of the lncome-tax Act, the following section shall be inserted with effect from

investment in foreign companies is taxable in India U/s. 115BBD of the Act. This fact coupled with ratio of decision of the jurisdictional High

investment in foreign companies is taxable in India U/s. 115BBD of the Act. This fact coupled with ratio of decision of the jurisdictional High

foreign subsidiary for which dividend from its subsidiary is taxable under section 115BBD and it is not exempt. It Page No. 20 ITA NO. 2542

foreign company, the tax is payable by the domestic company under section 115BBD on such dividend: Provided that the same amount of dividend shall