https://www.taxtmi.com/caselaws?id=759473 Article 14(4) of the India-Spain DTAA was held inapplicable because the share transfer did not involve a controlling or significant interest and the company's immovable property in India did not exceed 50% of total assets on either book value or fair market value. The provision was treated as an anti-avoidance rule targeting indirect transfers of Indian immovable property through share sales, and those conditions were not met on the stated facts. Accordingly, the capital gains from the share transfer were not taxable in India and remained taxable only in the residence State. en-us Tue, 27 Aug 2024 00:00:00 +0530 Thu, 03 Oct 2024 07:50:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759473 Article 14(4) of the India-Spain DTAA was held inapplicable because the share transfer did not involve a controlling or significant interest and the company's immovable property in India did not exceed 50% of total assets on either book value or fair market value. The provision was treated as an anti-avoidance rule targeting indirect transfers of Indian immovable property through share sales, and those conditions were not met on the stated facts. Accordingly, the capital gains from the share transfer were not taxable in India and remained taxable only in the residence State. Case-Laws Income Tax Tue, 27 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759473