https://www.taxtmi.com/caselaws?id=784174 Whether a non-resident recipient of consideration for transfer of shares of an unlisted Indian company was entitled to lower withholding by applying the concessional long-term capital gains rate under s.112(1)(c)(iii) was the dominant issue. The Tribunal held that the first and second provisos to s.48 prescribe the computation mechanism (foreign-currency conversion/reconversion and indexation substitution) and do not displace the substantive concessional rate under s.112(1)(c)(iii) applicable to eligible non-residents; the AO erred in ignoring the statutory conditions while challenging the rate. The CIT(A)'s direction to apply the effective TDS rate consistent with s.112(1)(c)(iii) and to verify remaining remittances accordingly was upheld, and the Revenue's appeal was dismissed. en-us Tue, 16 Dec 2025 00:00:00 +0530 Tue, 30 Dec 2025 09:29:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784174 Whether a non-resident recipient of consideration for transfer of shares of an unlisted Indian company was entitled to lower withholding by applying the concessional long-term capital gains rate under s.112(1)(c)(iii) was the dominant issue. The Tribunal held that the first and second provisos to s.48 prescribe the computation mechanism (foreign-currency conversion/reconversion and indexation substitution) and do not displace the substantive concessional rate under s.112(1)(c)(iii) applicable to eligible non-residents; the AO erred in ignoring the statutory conditions while challenging the rate. The CIT(A)'s direction to apply the effective TDS rate consistent with s.112(1)(c)(iii) and to verify remaining remittances accordingly was upheld, and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 16 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784174