https://www.taxtmi.com/caselaws?id=309268 A Mauritius resident holding a valid Tax Residency Certificate was treated as entitled to treaty relief under the unamended India-Mauritius tax treaty for short-term capital gains on shares acquired before 1 April 2017, because the pre-amended Article 13(4) allocated taxing rights to the State of residence and the later amendment did not apply retrospectively. The Tribunal also noted that the CBDT circular recognising a residence certificate as sufficient treaty evidence remained operative. On the alternative India-Netherlands treaty basis, India could tax the gain only if the shares derived their value principally from immovable property in India, and the Revenue failed to prove that condition. The capital gain was therefore not taxable in India under either treaty. en-us Wed, 16 Nov 2022 00:00:00 +0530 Wed, 13 Mar 2024 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309268 A Mauritius resident holding a valid Tax Residency Certificate was treated as entitled to treaty relief under the unamended India-Mauritius tax treaty for short-term capital gains on shares acquired before 1 April 2017, because the pre-amended Article 13(4) allocated taxing rights to the State of residence and the later amendment did not apply retrospectively. The Tribunal also noted that the CBDT circular recognising a residence certificate as sufficient treaty evidence remained operative. On the alternative India-Netherlands treaty basis, India could tax the gain only if the shares derived their value principally from immovable property in India, and the Revenue failed to prove that condition. The capital gain was therefore not taxable in India under either treaty. Case-Laws Income Tax Wed, 16 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309268