Section 115BBDA Does Not Apply to Domestic Companies: ITAT Hyderabad

Meenakshi Ventures and Holdings India Private Limited Vs ITO (ITAT Hyderabad) Introduction: In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Hyderabad provided clarity on the applicability of Section 115BBDA of the Income Tax Act, 1961, to domestic companies. The case, Meenakshi Ventures and Holdings India Private Limited vs. The Income Tax Officer, centered on whether the provisions of Section 115BBDA, which imposes additional tax on dividends exceeding ten lakh rupees, are applicable to domestic companies. The ITAT concluded that these provisions do not apply to domestic com...