https://www.taxtmi.com/caselaws?id=410176 The commentary addresses two tax issues under the India-Switzerland DTAA. First, it states that the Indian subsidiary was not a service PE or dependent agent PE, so the reinsurance profits could not be taxed in India under Article 7. Second, it notes that a long-term capital loss on share sale was treated as genuine because the transaction was supported by regulatory approvals, documentation, and valuation material, and because the actual sale transaction governed the computation rather than Rule 11UA. On that basis, the loss was treated as allowable for carry forward and set-off, and the treaty-based addition and disallowance were deleted. en-us Tue, 20 Jul 2021 00:00:00 +0530 Tue, 27 Jul 2021 08:54:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410176 The commentary addresses two tax issues under the India-Switzerland DTAA. First, it states that the Indian subsidiary was not a service PE or dependent agent PE, so the reinsurance profits could not be taxed in India under Article 7. Second, it notes that a long-term capital loss on share sale was treated as genuine because the transaction was supported by regulatory approvals, documentation, and valuation material, and because the actual sale transaction governed the computation rather than Rule 11UA. On that basis, the loss was treated as allowable for carry forward and set-off, and the treaty-based addition and disallowance were deleted. Case-Laws Income Tax Tue, 20 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410176