https://www.taxtmi.com/highlights?id=93858 ITAT allowed the taxpayer's appeal, holding that the capital gain on sale of shares qualifies for exemption under Article 13(4) of the India-Mauritius DTAA. The Tribunal found departmental allegations that the assessee was a mere paper company unsubstantiated, noting absence of cogent material to rebut the assessee's status as a tax resident of Mauritius. The Tribunal further observed that the AO's acceptance, by permitting carry-forward/set-off of long-term capital loss from an earlier year, undermined the denial of genuineness. Consequently, the AO's denial of treaty relief and invocation of domestic charging provisions was set aside and the assessee's claim for treaty exemption allowed. en-us Tue, 04 Nov 2025 08:03:33 +0530 Tue, 04 Nov 2025 08:03:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=93858 ITAT allowed the taxpayer's appeal, holding that the capital gain on sale of shares qualifies for exemption under Article 13(4) of the India-Mauritius DTAA. The Tribunal found departmental allegations that the assessee was a mere paper company unsubstantiated, noting absence of cogent material to rebut the assessee's status as a tax resident of Mauritius. The Tribunal further observed that the AO's acceptance, by permitting carry-forward/set-off of long-term capital loss from an earlier year, undermined the denial of genuineness. Consequently, the AO's denial of treaty relief and invocation of domestic charging provisions was set aside and the assessee's claim for treaty exemption allowed. Highlights Income Tax Tue, 04 Nov 2025 08:03:33 +0530 https://www.taxtmi.com/highlights?id=93858