https://www.taxtmi.com/caselaws?id=206843 Treaty-shopping allegations did not justify disregarding a Mauritius resident company or denying India-Mauritius Treaty relief where the shares were held for a substantial period and the transfer was a bona fide commercial sale at market value; the capital gains were therefore not taxable in India. Because the gains were not chargeable to Indian tax, no withholding tax was required on the sale proceeds. The Authority nevertheless held that a return of income in India was still required in respect of the proposed transfer, following its later rulings on the filing obligation despite treaty protection on capital gains. en-us Mon, 14 Nov 2011 00:00:00 +0530 Fri, 14 Dec 2012 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206843 Treaty-shopping allegations did not justify disregarding a Mauritius resident company or denying India-Mauritius Treaty relief where the shares were held for a substantial period and the transfer was a bona fide commercial sale at market value; the capital gains were therefore not taxable in India. Because the gains were not chargeable to Indian tax, no withholding tax was required on the sale proceeds. The Authority nevertheless held that a return of income in India was still required in respect of the proposed transfer, following its later rulings on the filing obligation despite treaty protection on capital gains. Case-Laws Income Tax Mon, 14 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206843