https://www.taxtmi.com/caselaws?id=445806 A valid Mauritius Tax Residency Certificate ordinarily establishes treaty residence and entitlement under the India-Mauritius DTAA, so capital gains on shares acquired before 1 April 2017 remained eligible for exemption under Article 13(4). Allegations that the entity was a conduit, lacked substance, or engaged in treaty shopping could not defeat the treaty claim without cogent evidence. The text also notes that treaty benefits may be denied only where an applicable anti-avoidance mechanism is invoked, such as GAAR or an express limitation of benefits clause; neither was invoked on these facts. The Revenue's denial of exemption was therefore unsustainable. en-us Tue, 31 Oct 2023 00:00:00 +0530 Sat, 18 Nov 2023 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445806 A valid Mauritius Tax Residency Certificate ordinarily establishes treaty residence and entitlement under the India-Mauritius DTAA, so capital gains on shares acquired before 1 April 2017 remained eligible for exemption under Article 13(4). Allegations that the entity was a conduit, lacked substance, or engaged in treaty shopping could not defeat the treaty claim without cogent evidence. The text also notes that treaty benefits may be denied only where an applicable anti-avoidance mechanism is invoked, such as GAAR or an express limitation of benefits clause; neither was invoked on these facts. The Revenue's denial of exemption was therefore unsustainable. Case-Laws Income Tax Tue, 31 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445806