https://www.taxtmi.com/caselaws?id=446420 Delhi HC held that Explanations 6 and 7 to Section 9(1)(i) of the Income Tax Act, inserted by Finance Act 2015, are clarificatory and curative in nature, thus having retrospective effect from 01.04.1962. The court ruled these explanations must be read with Explanation 5 to provide legislative guidance on vague expressions like "share/interest" and "substantially." The HC determined that gains from overseas company shares deriving less than 50% value from Indian assets are not taxable under Section 9(1)(i), following OECD Model Tax Convention principles. The Tribunal's order was upheld. en-us Thu, 30 Nov 2023 00:00:00 +0530 Fri, 03 May 2024 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446420 Delhi HC held that Explanations 6 and 7 to Section 9(1)(i) of the Income Tax Act, inserted by Finance Act 2015, are clarificatory and curative in nature, thus having retrospective effect from 01.04.1962. The court ruled these explanations must be read with Explanation 5 to provide legislative guidance on vague expressions like "share/interest" and "substantially." The HC determined that gains from overseas company shares deriving less than 50% value from Indian assets are not taxable under Section 9(1)(i), following OECD Model Tax Convention principles. The Tribunal's order was upheld. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446420