https://www.taxtmi.com/caselaws?id=183823 Mauritius residence was accepted, so treaty benefits applied, but systematic and organised share dealings through a profit-driven investment structure were treated as business operations, not capital gains. The investment adviser and custodian were held to be only limited, auxiliary and non-exclusive service providers, so no permanent establishment arose in India and business profits were taxable only in Mauritius. Interest and penal interest on debentures fell within the interest article, while front-end fees and redemption premium were treated as capital gains; deterrence fees were characterised as compensatory and covered by the residual article if so classified. A return filing obligation arose once income exceeded the statutory threshold, and non-filing could attract penalty. en-us Wed, 07 Mar 2001 00:00:00 +0530 Wed, 22 Jun 2016 16:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183823 Mauritius residence was accepted, so treaty benefits applied, but systematic and organised share dealings through a profit-driven investment structure were treated as business operations, not capital gains. The investment adviser and custodian were held to be only limited, auxiliary and non-exclusive service providers, so no permanent establishment arose in India and business profits were taxable only in Mauritius. Interest and penal interest on debentures fell within the interest article, while front-end fees and redemption premium were treated as capital gains; deterrence fees were characterised as compensatory and covered by the residual article if so classified. A return filing obligation arose once income exceeded the statutory threshold, and non-filing could attract penalty. Case-Laws Income Tax Wed, 07 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183823