https://www.taxtmi.com/caselaws?id=210964 Capital gains from transfer of Government of India T-Bills by UAE resident investors were treated as taxable only in the state of residence under the India-UAE DTAA, because the securities were movable property and did not fall within the immovable property or business-property exceptions. The residence article was applied on the basis that "liable to tax" includes a state's right to tax, not only actual tax payment. The protocol and notification did not change that allocation for Government T-Bills. As a result, the gains were not taxable in India and the bank was not liable for TDS or interest under section 201. en-us Fri, 16 Sep 2011 00:00:00 +0530 Fri, 22 Apr 2016 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210964 Capital gains from transfer of Government of India T-Bills by UAE resident investors were treated as taxable only in the state of residence under the India-UAE DTAA, because the securities were movable property and did not fall within the immovable property or business-property exceptions. The residence article was applied on the basis that "liable to tax" includes a state's right to tax, not only actual tax payment. The protocol and notification did not change that allocation for Government T-Bills. As a result, the gains were not taxable in India and the bank was not liable for TDS or interest under section 201. Case-Laws Income Tax Fri, 16 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210964