https://www.taxtmi.com/caselaws?id=6580 Section 115AD operates as a special, self-contained computation regime for Foreign Institutional Investors investing in securities, and no implied election allows resort to the general capital gains provisions under sections 48 and 112 with indexation. The provision excludes application of the first and second provisos to section 48 for this class, and the option available to a non-resident Indian under section 115-I cannot be read into it. The regime also applies where transfer of securities results in capital loss, because loss forms part of the computation in the same manner as profit. The treaty discrimination argument based on nationality was rejected because the classification turns on residential status. en-us Fri, 25 Feb 2005 00:00:00 +0530 Thu, 15 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6580 Section 115AD operates as a special, self-contained computation regime for Foreign Institutional Investors investing in securities, and no implied election allows resort to the general capital gains provisions under sections 48 and 112 with indexation. The provision excludes application of the first and second provisos to section 48 for this class, and the option available to a non-resident Indian under section 115-I cannot be read into it. The regime also applies where transfer of securities results in capital loss, because loss forms part of the computation in the same manner as profit. The treaty discrimination argument based on nationality was rejected because the classification turns on residential status. Case-Laws Income Tax Fri, 25 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6580