https://www.taxtmi.com/caselaws?id=32103 Capital gains from alienation of shares in Indian companies by a UAE resident were treated as taxable only in the State of residence under Article 13(3) of the applicable double taxation treaty. The ruling applied the treaty rule for gains from alienation of property other than immovable property or property connected with a permanent establishment, and held that the resident status of the alienator brought the gains within that residence-based allocation. Section 90(2) of the Income-tax Act, 1961 was also applied so that the more beneficial treaty provision prevailed over domestic law. Accordingly, the gains were not taxable in India and were taxable only in the United Arab Emirates. en-us Wed, 27 Oct 2004 00:00:00 +0530 Thu, 15 Jan 2009 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32103 Capital gains from alienation of shares in Indian companies by a UAE resident were treated as taxable only in the State of residence under Article 13(3) of the applicable double taxation treaty. The ruling applied the treaty rule for gains from alienation of property other than immovable property or property connected with a permanent establishment, and held that the resident status of the alienator brought the gains within that residence-based allocation. Section 90(2) of the Income-tax Act, 1961 was also applied so that the more beneficial treaty provision prevailed over domestic law. Accordingly, the gains were not taxable in India and were taxable only in the United Arab Emirates. Case-Laws Income Tax Wed, 27 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32103