CIT(Appeals) was not justified and grossly erred in not allowing
deduction for Education Cess on Income Tax, Dividend Distribution
Tax and Fringe Benefit Tax ... considered view that AO/CIT(A) have erred in disallowing the
deduction for education cess on income-tax, dividend distribution
tax and fringe benefit tax
whosoever receives it. The
payer of the dividend i.e. Escorts Limited have deposited
Dividend Distribution Tax as per section 115-0 at the
prescribed ... trust, again
without consideration and income tax department has not
received capital gain tax or any other taxes in the entire
process of transfer. Moreover
dividend distribution within the meaning of provisions of Section
2(22)(a) of the Act. The assessee failed to pay the dividend
distribution tax ... distribution of any dividend by the
assessee company to its shareholder and therefore the provisions
regarding the dividend distribution tax u/s 115O
Dividend Distribution Tax [DDT] levied in terms of section 115-0 of the
Act should be restricted to the rate of tax on dividends ... liable to pay tax on dividend income received. Domestic
companies distributing profits as dividends were liable to
deduct tax at source and shareholders receiving
dividend. In the eventuality, the
ITA 96/2020 Page 2 of 8
assessee would have paid dividend distribution tax on such profits earned ... paid as commission to Mr. Anshuman Magazine. In
order to avoid dividend distribution tax, the assessee had made the payment
under the guise of commission
considered as deemed dividend in the
hands of assessee. Accordingly, Dividend Distribution Tax on such
deemed dividend @ 16.609% amounting ... Since the aforesaid sum
of Rs 10,33,11,000/- suffered Dividend Distribution Tax u/s 115-O of the
Act, the assessee claimed
Presented A Statement Of The Estimated Receipts And Expenditure Of The ... on 1 February, 2020
Appeals) was not
justified in confirming the addition of dividend distribution tax in computing
Book Prof it u/sll5JB.
12. That on the facts ... LIMITED
Assessment Year: 2004-05
4.11 Gr. No.11: Adjustment of Dividend Distribution Tax u/s 115JB and
non-admission of additional ground
This issue
divert
money in the hands of directors and avoid payment of dividend
distribution tax.
8. On appeal, the CIT(A) vide order dated 22.02.2017
delete ... Officer has also held that the
assessee has tried to evade dividend distribution tax
unde r section 115-O by the way of giving
alongwith copies of challan of Dividend Tax and ITR are enclosed to
evident facts about dividend and dividend distribution, tax. The advance of
Rs.307230 ... dividend shall be unlawful. Once again, double
taxation cannot be there. Shareholder shall be paying tax on deemed dividend and
company had paid Dividend Distribution
