https://www.taxtmi.com/caselaws?id=6607 Capital gains from transfer of shares in an Indian company by one non-resident to another non-resident were held taxable in India because the shares were capital assets situated in India and the deeming provision treated the gains as accruing or arising in India. The execution of the transfer agreement outside India and the non-resident status of both parties did not displace domestic taxability, and the treaty position did not exclude it. The transferee was also treated as an agent and representative assessee of the transferor because the statutory inclusive definition of agent covered a person in India acquiring by transfer a capital asset in India. en-us Fri, 16 Nov 2007 00:00:00 +0530 Thu, 15 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6607 Capital gains from transfer of shares in an Indian company by one non-resident to another non-resident were held taxable in India because the shares were capital assets situated in India and the deeming provision treated the gains as accruing or arising in India. The execution of the transfer agreement outside India and the non-resident status of both parties did not displace domestic taxability, and the treaty position did not exclude it. The transferee was also treated as an agent and representative assessee of the transferor because the statutory inclusive definition of agent covered a person in India acquiring by transfer a capital asset in India. Case-Laws Income Tax Fri, 16 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6607