https://www.taxtmi.com/caselaws?id=281894 Mutual fund units were treated as legally distinct from shares for purposes of the Indo-Swiss tax treaty. The reasoning applied the principle that a deeming fiction must be limited to the purpose for which it is created, and in the absence of a statutory rule equating units with shares, the treaty provision on alienation of shares could not be extended to mutual fund units. Relying on the Supreme Court principle that units are not shares, the analysis concluded that Article 13(5) did not apply. Capital gains from sale of the units therefore fell under Article 13(6) and were taxable only in the residence State, not in India. en-us Mon, 12 Aug 2013 00:00:00 +0530 Thu, 11 Jul 2019 10:16:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281894 Mutual fund units were treated as legally distinct from shares for purposes of the Indo-Swiss tax treaty. The reasoning applied the principle that a deeming fiction must be limited to the purpose for which it is created, and in the absence of a statutory rule equating units with shares, the treaty provision on alienation of shares could not be extended to mutual fund units. Relying on the Supreme Court principle that units are not shares, the analysis concluded that Article 13(5) did not apply. Capital gains from sale of the units therefore fell under Article 13(6) and were taxable only in the residence State, not in India. Case-Laws Income Tax Mon, 12 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281894