Capital gains from foreign asset sales not taxable under Explanation 5 to Section 9(1) of India's Income Tax Act.

Capital gains from foreign asset sales not taxable under Explanation 5 to Section 9(1) of India's Income Tax Act. https://www.taxtmi.com/highlights?id=19734 Capital gain on sale of shares of Indian company - there can be no recourse to Explanation 5 to enlarge the scope of Section 9(1) of the Act so as to cast the net of tax on gains or income that may arise from transfer of an asset situated outside India, which derives bulk of its value from assets outside India - HC en-us Thu, 21 Aug 2014 12:06:53 +0530 Thu, 21 Aug 2014 12:06:53 +0530 TaxTMI RSS Generator Capital gains from foreign asset sales not taxable under Explanation 5 to Section 9(1) of India's Income Tax Act. https://www.taxtmi.com/highlights?id=19734 Capital gain on sale of shares of Indian company - there can be no recourse to Explanation 5 to enlarge the scope of Section 9(1) of the Act so as to cast the net of tax on gains or income that may arise from transfer of an asset situated outside India, which derives bulk of its value from assets outside India - HC Highlights Income Tax Thu, 21 Aug 2014 12:06:53 +0530 https://www.taxtmi.com/highlights?id=19734