https://www.taxtmi.com/caselaws?id=449117 A Mauritius tax resident holding a valid Tax Residency Certificate was entitled to treaty protection under Article 13(4) of the India-Mauritius DTAA on capital gains from sale of shares of Indian companies, because the assessee substantiated residence with bank records, foreign currency investment documents and related evidence. The revenue's allegation that the entity was a mere paper company failed, as no cogent material showed it was a shell or conduit, or that there was round-tripping or other illegality. In the absence of reliable evidence to displace the residency claim, the treaty benefit was available and the capital gain was not taxable in India. en-us Tue, 21 Nov 2023 00:00:00 +0530 Tue, 06 Feb 2024 08:21:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449117 A Mauritius tax resident holding a valid Tax Residency Certificate was entitled to treaty protection under Article 13(4) of the India-Mauritius DTAA on capital gains from sale of shares of Indian companies, because the assessee substantiated residence with bank records, foreign currency investment documents and related evidence. The revenue's allegation that the entity was a mere paper company failed, as no cogent material showed it was a shell or conduit, or that there was round-tripping or other illegality. In the absence of reliable evidence to displace the residency claim, the treaty benefit was available and the capital gain was not taxable in India. Case-Laws Income Tax Tue, 21 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449117