In matters giving benefit to assessee, dept must avoid Technical Approach-HC relief for actor Danny Denzongpa

Brief : The Bombay High Court has directed the income tax commissioner to reconsider the applications of Bollywood actor Danny Denzongpa alias Tshering Pintso for tax exemptions on dividends and interests since 1997-98 under section 10(26AAA) as incorporated in the Finance Act, which entitled tax exemptions to Sikkimese nationals on dividends and interest on securities. A division bench of the high court has set aside the order passed by the income-tax commissioner rejecting nine applications filed by Denzongpa seeking the exemptions as per the amendment to the Finance Act in 2008. Citation : ...