Section 115-O, read with sections 115P and 263, of the Income-tax Act, 1961

IT : Provision for dividend made in accounts or recommendation of board of director regarding proposed dividend can not be considered as declaration of dividend
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[2015] 54 taxmann.com 135 (Kolkata - Trib.)
IN THE ITAT KOLKATA BENCH 'B'
BMW Industries Ltd.
v.
Commissioner of Income-tax, Central-II, Kolkata*
MAHAVIR SINGH, JUDICIAL MEMBER
AND SHAMIM YAHYA, ACCOUNTANT MEMBER
IT APPEAL NO. 1762 (KOL.) OF 2013
[ASSESSMENT YEAR 2004-05]
DECEMBER  11, 2014
Section 115-O, read with sections 115P and 263, of the Income-tax Act, 1961 - Divident Distribution Tax (Dividend declared) - Assessment year 2004-05 - Whether provision for dividend made in accounts or recommendation of board of director regarding proposed dividend can not be considered as declaration of dividend - Held, yes - Whether where assessee-company paid dividend distribution tax on dividend declared in AGM, assessee could not be held liable under section 115-O - Held, yes [Para 6.4] [In favour of assessee]