https://www.taxtmi.com/caselaws?id=350084 The Appellate Tribunal ITAT Mumbai ruled in favor of the appellant in a case involving the taxation of gain on foreign exchange transactions under capital gains and the tax treatment of gains on the sale of shares of companies engaged in real estate development under the India-Spain tax treaty. The tribunal held that the gain on forex transactions was capital gains and not taxable in India, and that the appellant was entitled to exemption under the treaty for the sale of shares, as the value was not solely derived from immovable property. en-us Mon, 11 Sep 2017 00:00:00 +0530 Mon, 30 Oct 2017 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350084 The Appellate Tribunal ITAT Mumbai ruled in favor of the appellant in a case involving the taxation of gain on foreign exchange transactions under capital gains and the tax treatment of gains on the sale of shares of companies engaged in real estate development under the India-Spain tax treaty. The tribunal held that the gain on forex transactions was capital gains and not taxable in India, and that the appellant was entitled to exemption under the treaty for the sale of shares, as the value was not solely derived from immovable property. Case-Laws Income Tax Mon, 11 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350084