https://www.taxtmi.com/highlights?id=88013 ITAT ruled on long-term capital gains (LTCG) taxation for shares acquired before 01.04.2017 under India-Singapore DTAA. The tribunal held that LTCG from share transfer cannot be taxed in India for pre-specified shares. The assessee can choose treaty benefits for each transaction separately and is entitled to carry forward long-term capital loss (LTCL) under domestic tax provisions. The appellate authority found merit in the assessee's argument regarding carry forward of LTCL, noting the issue was debatable and the Assessing Officer incorrectly disallowed LTCL carry forward. Consequently, the assessee's appeal was allowed, permitting LTCL carry forward and treaty benefits application. en-us Sat, 03 May 2025 08:34:49 +0530 Sat, 03 May 2025 08:34:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88013 ITAT ruled on long-term capital gains (LTCG) taxation for shares acquired before 01.04.2017 under India-Singapore DTAA. The tribunal held that LTCG from share transfer cannot be taxed in India for pre-specified shares. The assessee can choose treaty benefits for each transaction separately and is entitled to carry forward long-term capital loss (LTCL) under domestic tax provisions. The appellate authority found merit in the assessee's argument regarding carry forward of LTCL, noting the issue was debatable and the Assessing Officer incorrectly disallowed LTCL carry forward. Consequently, the assessee's appeal was allowed, permitting LTCL carry forward and treaty benefits application. Highlights Income Tax Sat, 03 May 2025 08:34:49 +0530 https://www.taxtmi.com/highlights?id=88013