https://www.taxtmi.com/caselaws?id=331901 A Mauritian resident company that produced a valid tax residency certificate and showed that the shares were held in its own name and account was entitled to treaty protection under Article 13(4) of the India-Mauritius DTAA. On those facts, the capital gains from the share transfer were not taxable in India under section 90, so the transferee had no withholding obligation under section 195 and no Indian return of income was required for those gains. The ruling also accepted that section 115JB did not apply to the foreign company in the circumstances considered, leaving the applicant outside MAT liability. en-us Wed, 10 Aug 2016 00:00:00 +0530 Thu, 02 Feb 2017 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331901 A Mauritian resident company that produced a valid tax residency certificate and showed that the shares were held in its own name and account was entitled to treaty protection under Article 13(4) of the India-Mauritius DTAA. On those facts, the capital gains from the share transfer were not taxable in India under section 90, so the transferee had no withholding obligation under section 195 and no Indian return of income was required for those gains. The ruling also accepted that section 115JB did not apply to the foreign company in the circumstances considered, leaving the applicant outside MAT liability. Case-Laws Income Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331901