https://www.taxtmi.com/caselaws?id=395791 Under the India-Cyprus DTAA then in force, capital gains from a Cyprus resident's transfer of shares in an Indian company did not fall within the treaty rules for immovable property, business property connected with a permanent establishment or fixed base, or ships and aircraft. The gain therefore fell within the residual article for other property, under which such gains are taxable only in the State of residence of the alienator. On that basis, the gains were taxable only in Cyprus, not in India, and the Indian purchaser was not required to deduct tax at source under section 195 on the sale consideration. en-us Fri, 29 May 2020 00:00:00 +0530 Mon, 08 Jun 2020 11:17:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395791 Under the India-Cyprus DTAA then in force, capital gains from a Cyprus resident's transfer of shares in an Indian company did not fall within the treaty rules for immovable property, business property connected with a permanent establishment or fixed base, or ships and aircraft. The gain therefore fell within the residual article for other property, under which such gains are taxable only in the State of residence of the alienator. On that basis, the gains were taxable only in Cyprus, not in India, and the Indian purchaser was not required to deduct tax at source under section 195 on the sale consideration. Case-Laws Income Tax Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395791