https://www.taxtmi.com/caselaws?id=215780 Shares held as a long-term investment were treated as a capital asset under section 2(14). Capital gains on transfer by a Mauritius resident were not chargeable to tax in India because the more beneficial India-Mauritius DTAA applied, supported by a valid tax residency certificate and Article 13(4). The transfer nevertheless constituted an international transaction, so transfer pricing provisions under sections 92 to 92F applied. No withholding tax obligation arose under section 195 because the gains were not taxable in India, but a return of income remained required under section 139. Section 115JB was also held applicable where its statutory conditions were met. en-us Thu, 16 Aug 2012 00:00:00 +0530 Sat, 18 Aug 2012 13:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215780 Shares held as a long-term investment were treated as a capital asset under section 2(14). Capital gains on transfer by a Mauritius resident were not chargeable to tax in India because the more beneficial India-Mauritius DTAA applied, supported by a valid tax residency certificate and Article 13(4). The transfer nevertheless constituted an international transaction, so transfer pricing provisions under sections 92 to 92F applied. No withholding tax obligation arose under section 195 because the gains were not taxable in India, but a return of income remained required under section 139. Section 115JB was also held applicable where its statutory conditions were met. Case-Laws Income Tax Thu, 16 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215780