https://www.taxtmi.com/caselaws?id=187061 Capital gains realised by a Mauritius-incorporated company on sale of Indian shares were treated as not taxable in India under the Indo-Mauritius tax treaty, where the company held a valid tax residence certificate. The Tribunal followed the Supreme Court's ruling upholding CBDT Circular No. 789 and the treaty arrangement, holding that gains of a Mauritius resident from transfer of shares were not chargeable merely because the investments related to Indian securities. The contrary argument based on residence and management, and the earlier Delhi High Court view, could not override the binding Supreme Court position. The tax addition was therefore unsustainable. en-us Fri, 10 Jul 2009 00:00:00 +0530 Fri, 07 Oct 2016 17:16:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187061 Capital gains realised by a Mauritius-incorporated company on sale of Indian shares were treated as not taxable in India under the Indo-Mauritius tax treaty, where the company held a valid tax residence certificate. The Tribunal followed the Supreme Court's ruling upholding CBDT Circular No. 789 and the treaty arrangement, holding that gains of a Mauritius resident from transfer of shares were not chargeable merely because the investments related to Indian securities. The contrary argument based on residence and management, and the earlier Delhi High Court view, could not override the binding Supreme Court position. The tax addition was therefore unsustainable. Case-Laws Income Tax Fri, 10 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187061