https://www.taxtmi.com/caselaws?id=771394 ITAT Mumbai held that rights entitlement from shares are distinct from underlying shares, following SC precedent. Capital gains from sale of rights entitlement by Saudi Arabia resident are taxable only in Saudi Arabia under Article 13(6) of India-Saudi Arabia DTAA, not in India. Addition for capital gains deleted. Issue regarding advance tax credit restored to AO for verification and proper adjustment after pending rectification application consideration. en-us Thu, 22 May 2025 00:00:00 +0530 Sat, 24 May 2025 09:00:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771394 ITAT Mumbai held that rights entitlement from shares are distinct from underlying shares, following SC precedent. Capital gains from sale of rights entitlement by Saudi Arabia resident are taxable only in Saudi Arabia under Article 13(6) of India-Saudi Arabia DTAA, not in India. Addition for capital gains deleted. Issue regarding advance tax credit restored to AO for verification and proper adjustment after pending rectification application consideration. Case-Laws Income Tax Thu, 22 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771394