https://www.taxtmi.com/caselaws?id=250656 The court upheld the ruling that the capital gains from the sale of shares by Mauritian companies were not taxable in India under the India-Mauritius DTAA. It also found no obligation for withholding tax under Section 195 of the Income Tax Act by the purchasing companies. The court determined that the transactions had a legitimate commercial purpose and were not solely tax-driven. Additionally, it confirmed that the effective management and control of the Mauritian companies resided with their Boards of Directors in Mauritius, dismissing the Revenue's challenges. en-us Thu, 14 Aug 2014 00:00:00 +0530 Fri, 08 May 2015 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250656 The court upheld the ruling that the capital gains from the sale of shares by Mauritian companies were not taxable in India under the India-Mauritius DTAA. It also found no obligation for withholding tax under Section 195 of the Income Tax Act by the purchasing companies. The court determined that the transactions had a legitimate commercial purpose and were not solely tax-driven. Additionally, it confirmed that the effective management and control of the Mauritian companies resided with their Boards of Directors in Mauritius, dismissing the Revenue's challenges. Case-Laws Income Tax Thu, 14 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250656