https://www.taxtmi.com/caselaws?id=768946 Treaty-protected long-term capital gains on grandfathered shares under Article 13(4) of the India-Mauritius DTAA could not be reduced by setting off capital losses from non-grandfathered share transactions, because section 90(2) preserved the treaty exemption. The Tribunal reasoned that set-off under sections 70 and 74 presupposes taxable income under the head "Capital Gains"; exempt treaty income is not available for adjustment. It followed earlier coordinate bench rulings that exempt capital gains cannot be offset against other losses. The losses themselves remained eligible for carry forward under the Act, and the set-off reflected in the intimation was held unsustainable. en-us Tue, 08 Apr 2025 00:00:00 +0530 Wed, 16 Apr 2025 08:38:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768946 Treaty-protected long-term capital gains on grandfathered shares under Article 13(4) of the India-Mauritius DTAA could not be reduced by setting off capital losses from non-grandfathered share transactions, because section 90(2) preserved the treaty exemption. The Tribunal reasoned that set-off under sections 70 and 74 presupposes taxable income under the head "Capital Gains"; exempt treaty income is not available for adjustment. It followed earlier coordinate bench rulings that exempt capital gains cannot be offset against other losses. The losses themselves remained eligible for carry forward under the Act, and the set-off reflected in the intimation was held unsustainable. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768946