Foreign tax credit issue 'first of its kind', acknowledges HC; Grants time
Senior Advocate N. Venkatraman continues arguments to buttress Wipro’s foreign tax credit claim before Karnataka HC; Argues that Sec 90(1)(a)(ii) providing for grant of credit of taxes on income “chargeable" to tax in India and the foreign country, though introduced w.e.f. April 1, 2004,is clarificatory in nature; Even otherwise, contends that prior to 2004, assessee should be entitled for benefit u/s 90(2) under re...
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