https://www.taxtmi.com/caselaws?id=449242 India-Mauritius DTAA benefits depend on valid Mauritian tax residence and Article 13(4) capital-gains treatment. A Tax Residency Certificate issued by Mauritius establishes treaty residence; treaty shopping allegations, conduit concerns, lack of commercial rationale, and domestic tax exemption do not by themselves defeat entitlement. "Liable to taxation" differs from actual payment of tax. Article 13(4) grandfathering protects gains on equity shares acquired before 1 April 2017. Compulsorily convertible preference shares acquired before that date retain this protection after conversion into equity where the conversion does not materially alter the underlying rights. Consequently, qualifying pre-cut-off gains are not taxable in India. en-us Mon, 05 Feb 2024 00:00:00 +0530 Thu, 08 Feb 2024 08:12:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449242 India-Mauritius DTAA benefits depend on valid Mauritian tax residence and Article 13(4) capital-gains treatment. A Tax Residency Certificate issued by Mauritius establishes treaty residence; treaty shopping allegations, conduit concerns, lack of commercial rationale, and domestic tax exemption do not by themselves defeat entitlement. "Liable to taxation" differs from actual payment of tax. Article 13(4) grandfathering protects gains on equity shares acquired before 1 April 2017. Compulsorily convertible preference shares acquired before that date retain this protection after conversion into equity where the conversion does not materially alter the underlying rights. Consequently, qualifying pre-cut-off gains are not taxable in India. Case-Laws Income Tax Mon, 05 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449242