Dividend stripping

Short term capital loss shall be carried forward for 4 year and dividend income treated as ifos income

dividend received by a shareholder would be chargeable under Income Tax at the rate of 10%, if the aggregate amount of dividend received from a domestic company during the year exceeds Rs. 10,00,000. A specified assessee means a person other than:

A domestic company; or
A fund or institution or trust or any university or other educational institution or any hospital or other medical institution.
A trust or institution registered under section 12A or section 12AA.

Im asking about dividend stripping implications u/s 94

Rs. 35,00,000 will be the Short Term Capital Loss