https://www.taxtmi.com/caselaws?id=450529 A Mauritius resident holding a valid Tax Residency Certificate was entitled to treaty relief under Article 13(4) of the India-Mauritius DTAA for capital gains from shares acquired before 01.04.2017. The Tribunal noted that CBDT circulars and the Finance Ministry press release recognise the TRC as sufficient proof of residence and preserve grandfathering for pre-01.04.2017 investments. It further stated that treaty benefits cannot be denied merely on allegations of treaty shopping, shell structure, or lack of commercial substance when the limitation of benefits clause applies only prospectively and no fraud or illegality is shown. The capital gains were therefore not taxable in India. en-us Tue, 05 Mar 2024 00:00:00 +0530 Thu, 07 Mar 2024 09:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450529 A Mauritius resident holding a valid Tax Residency Certificate was entitled to treaty relief under Article 13(4) of the India-Mauritius DTAA for capital gains from shares acquired before 01.04.2017. The Tribunal noted that CBDT circulars and the Finance Ministry press release recognise the TRC as sufficient proof of residence and preserve grandfathering for pre-01.04.2017 investments. It further stated that treaty benefits cannot be denied merely on allegations of treaty shopping, shell structure, or lack of commercial substance when the limitation of benefits clause applies only prospectively and no fraud or illegality is shown. The capital gains were therefore not taxable in India. Case-Laws Income Tax Tue, 05 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450529