https://www.taxtmi.com/caselaws?id=445801 A valid Mauritius Tax Residency Certificate was treated as sufficient evidence of treaty residency, and Indian authorities could not deny India-Mauritius DTAA benefits on allegations of treaty shopping, conduit structure, lack of beneficial ownership, or insufficient commercial substance without supporting material. Capital gains from sale of shares acquired before the relevant treaty amendment remained governed by Article 13(4), and the original pre-cut-off acquisition of convertible preference shares, later converted into equity, did not alter that treaty position under Article 13(3A) or Article 13(3B). The gains were therefore not taxable in India and were taxable only in the State of residence. en-us Thu, 10 Aug 2023 00:00:00 +0530 Wed, 07 Feb 2024 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445801 A valid Mauritius Tax Residency Certificate was treated as sufficient evidence of treaty residency, and Indian authorities could not deny India-Mauritius DTAA benefits on allegations of treaty shopping, conduit structure, lack of beneficial ownership, or insufficient commercial substance without supporting material. Capital gains from sale of shares acquired before the relevant treaty amendment remained governed by Article 13(4), and the original pre-cut-off acquisition of convertible preference shares, later converted into equity, did not alter that treaty position under Article 13(3A) or Article 13(3B). The gains were therefore not taxable in India and were taxable only in the State of residence. Case-Laws Income Tax Thu, 10 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445801