Does the new Income Tax Bill 2025 pave way for double taxation of dividends?

The New Tax Bill has omitted section 80 M of the Income Tax Act 1961 that deals with dividend taxation for a holding company. This section allowed a parent company to claim a deduction on dividends received from its subsidiary before distributing them to shareholders, thereby avoiding double taxation. Moreover, the new provisions may create interpretational gaps, leading to legal ambiguities that could increase litigation