https://www.taxtmi.com/caselaws?id=775216 Derivative transactions were held to be financial contracts distinct from shares, so gains from such transactions could not be treated as gains from alienation of shares under Article 13(3A) of the India-Mauritius DTAA. The tribunal relied on the limited meaning of shares under company law, the separate recognition of derivatives under securities law, and the absence of any ownership rights in the underlying company. As the instruments were not shares merely because shares could be an underlying asset, the gains fell within Article 13(4) as alienation of property other than shares. The income was therefore not taxable in India on that basis, and the addition was deleted. en-us Thu, 26 Jun 2025 00:00:00 +0530 Mon, 16 Mar 2026 18:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775216 Derivative transactions were held to be financial contracts distinct from shares, so gains from such transactions could not be treated as gains from alienation of shares under Article 13(3A) of the India-Mauritius DTAA. The tribunal relied on the limited meaning of shares under company law, the separate recognition of derivatives under securities law, and the absence of any ownership rights in the underlying company. As the instruments were not shares merely because shares could be an underlying asset, the gains fell within Article 13(4) as alienation of property other than shares. The income was therefore not taxable in India on that basis, and the addition was deleted. Case-Laws Income Tax Thu, 26 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775216