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Section 10(34) & 10(38) exemption on dividend & LTCG of VCU earned by SARA Fund
Case Law Details
- Case Name
- Japan International Co-operation Agency (JICA) Vs ACIT (Intl. Taxation) (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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Japan International Co-operation Agency (JICA) Vs ACIT (ITAT Delhi)
A.O. as well as Ld. CIT(A) have taken a wrong view by holding that the assessee cannot grow tax-free income u/ss 10(34) and 10(35) of the Acts unless additional tax has been paid as per the provisions of Sections 115-0 and 115-R of the Act and as such the exemption claimed u/ss 10(34) and 10(35) is to be allowed only if the dividend income distributed as per the provisions of Sections 115-0 and 115-R whereas, the conditions laid down u/s 115-0 to avail the exemption u/s 10(34), is to be complied with at the level of venture ca...
