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ITAT grants stay on demands of Rs. 3786 Cr on account of DDT
Case Law Details
- Case Name
- Grasim Industries Limited Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
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Grasim Industries Limited Vs DCIT (ITAT Mumbai)
By way of this stay application, the assessee applicant has sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 3,786.34 crores in respect of the dividend distribution tax (DDT), and interest thereon, under section 115O/115Q r.w.s. 2(22)(a) of the Income Tax Act, 1961, on, what is termed as, a deemed dividend distribution of accumulated profits in the course of a demerger transaction which took place in the period relating to assessment year 2018-19.
ITAT Directed the assessee to furnish securities worth Rs 760 c...
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