Dividend from OMIFCO (Oman) Taxable as ‘Other Income’ in India: Delhi HC deletes Disallowance u/s 14A [Read Order]

OMIFCO - (Oman) - Taxable - Income - Delhi HC - TAXSCAN

A division bench of the Delhi High Court has held that the dividend received by the assessee from OMIFCO, Oman is chargeable to tax in India under the head “Income from other sources” and forms part of the total income and therefore, the disallowance under section 14A of the Income Tax Act, 1961 cannot be…

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