https://www.taxtmi.com/caselaws?id=263302 The court quashed the order issued by the Authority for Advance Rulings, ruling that no capital gains tax was payable by the parties involved in the transaction. It was determined that the transaction was not designed for tax avoidance, and the withholding tax was not required as per the Double Taxation Avoidance Agreement between India and Mauritius. The court emphasized the validity of the Tax Residency Certificates issued by Mauritius authorities and upheld the petitioner's position, concluding in favor of the petitioner on all raised issues. en-us Wed, 26 Aug 2015 00:00:00 +0530 Sat, 05 Mar 2016 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263302 The court quashed the order issued by the Authority for Advance Rulings, ruling that no capital gains tax was payable by the parties involved in the transaction. It was determined that the transaction was not designed for tax avoidance, and the withholding tax was not required as per the Double Taxation Avoidance Agreement between India and Mauritius. The court emphasized the validity of the Tax Residency Certificates issued by Mauritius authorities and upheld the petitioner's position, concluding in favor of the petitioner on all raised issues. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263302