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Dividend Distribution Tax U/S 115-O Not Applicable to Co-op Societies: ITAT Kolkata
Case Law Details
- Case Name
- Raiganj Central Co-Operative Bank Ltd. Vs DCIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Kolkata
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Raiganj Central Co-Operative Bank Ltd. Vs DCIT (ITAT Kolkata)
ITAT Kolkata held that dividend distribution tax u/s 115-O of the Act and interest u/s 115P of the Income Tax Act is applicable only to a domestic company and since appellant is a co-operative society and provisions of section 115-O and 115-P will not be applicable.
Facts- The assessee filed its return of income declaring total income of Rs. 3,61,22,503/-. The case was selected for scrutiny. As there was no further compliance, the assessment was completed based on the discussion made in the course of the hearing, verbal & writte...
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