Dividend Income needs to treated as Exempt Income u/s.10(34), No Tax Liability: ITAT [Read Order]

Dividend Income - Income - Tax Liability - ITAT - taxscan

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT)has held to treat dividend income as exempt income u/s.10(34) of the Income Tax Act,1961 and held as no tax.    M/s.Manmohan Textiles Limited, the assessee challenged the order by the Commissioner of Income Tax (Appeals) National Faceless Appeal Centre (NFAC) in appeal CIT(A) against the…

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