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Khaitan & Co. Update
The Mumbai Bench of the Income Tax Appellate Tribunal, in the case of Deputy CIT versus Total Oil India Pvt. (ITA No. 6997/Mum/2019) (Taxpayer) has expressed ‘doubts’ over the correctness of certain decisions rendered by co-ordinate benches of the Tribunal on the issue of tax treaty applicability to dividend distribution tax.
In those decisions, it was held that in relation to dividends paid to non-resident shareholders, the rate of dividend distribution tax payable by an Indian company should not exceed the tax rate specified for dividend income in the applicable tax treaty between India and the country of tax residence of the non-resident shareholder.
Having expressed doubts over the correctness of those decisions, the Tribunal has requested the President of the Tribunal to constitute a ‘Special Bench’ (comprising three or more Tribunal members) to adjudicate on this issue.
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