Dismissing the appeal of the Revenue the Court held that\u00a0 since the dividend income received by the assessee from OMIDCO , Oman is chargeable to tax in India\u00a0 under the head \u201cIncome from other sources \u201c\u00a0 and forms part of the total income , the same is included in taxable income in the computation of income filed by the assessee . However rebate of tax has been allowed to the assessee from the total taxes in terms of Section 90(2) of the Act , read with Article 25 of the Indo -Oman , DTAA and thus\u00a0 dividend earned can be\u00a0 said to be in the nature of excluded income and therefore , the provisions of Section 14A would not be attracted .Referred CIT v. Kribhco ( 2012) 349 ITR 618 ( Delhi)( HC) \u00a0\u00a0( ITA No. 3900 of 2022 dt. 11-10-2022) ( AY. 2007 -08 )<\/p>\n
\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" S .14A : Disallowance of expenditure – Exempt income – Dividend income from overseas company in Oman – No tax is payable on said dividend in India- Provision of section 14A is not attracted – DTAA -India \u2013 Oman .[ S. 2(45), 5,90(2)) R.8D , Art , 25 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-30846","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-81w","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=30846"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30846\/revisions"}],"predecessor-version":[{"id":30847,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30846\/revisions\/30847"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=30846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=30846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=30846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}