https://www.taxtmi.com/caselaws?id=774182 A foreign company is treated as resident in India under the pre-amended section 6(3) only if its control and management is wholly situated in India during the relevant year; board meetings, records and corporate administration in Mauritius supported non-residence, while delegated execution in India did not shift control. Valid Mauritian tax residency, incorporation and administration, together with the absence of a limitation of benefits clause in the relevant treaty period, supported Article 13(4) protection for capital gains on VEL shares. The restructuring, including liquidation of ETIL and the holding pattern, was assessed as a commercially driven group arrangement, with no cogent material showing sham, fraud or circular fund movement to evade tax. en-us Mon, 30 Jun 2025 00:00:00 +0530 Thu, 03 Jul 2025 15:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774182 A foreign company is treated as resident in India under the pre-amended section 6(3) only if its control and management is wholly situated in India during the relevant year; board meetings, records and corporate administration in Mauritius supported non-residence, while delegated execution in India did not shift control. Valid Mauritian tax residency, incorporation and administration, together with the absence of a limitation of benefits clause in the relevant treaty period, supported Article 13(4) protection for capital gains on VEL shares. The restructuring, including liquidation of ETIL and the holding pattern, was assessed as a commercially driven group arrangement, with no cogent material showing sham, fraud or circular fund movement to evade tax. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774182