In Brief
The Supreme Court upheld the High Court's decision that dividend income received by Tripti Trading and Investment Ltd from a foreign country is exempt from taxation under the Double Taxation Avoidance Agreement (DTAA) between India and that country. The Revenue's appeal challenging this exemption was dismissed, as the issue had already been settled against the Revenue in an earlier Supreme Court decision involving similar facts. The Court confirmed that DTAAs provide protection against double taxation on dividend income.
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