The Delhi High Court has held that the dividends received by Indian Farmers Fertiliser Cooperative (IFFCO) from Oman India Fertiliser Company S.A.O.C (OMIFCO) Oman cannot be disallowed under the Income Tax Act.The division bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora has observed that since the dividend received by the assessee from OMIFCO, Oman is chargeable to tax in...
