https://www.taxtmi.com/caselaws?id=801577 Equity-oriented mutual-fund units are legally distinct from shares; their redemption therefore falls outside gains from alienation of shares under Article 13(3A) and may receive residual treatment under Article 13(4), subject to treaty entitlement. A Tax Residence Certificate satisfies an eligibility condition but does not conclusively establish entitlement where statutory anti-abuse rules apply. Revenue must identify and establish treaty abuse before invoking substance over form. Treaty relief and Article 27A require factual scrutiny of control, decision-making, regulatory compliance and commercial substance, with an effective opportunity to respond to adverse material. en-us Tue, 29 Sep 2026 00:00:00 +0530 Fri, 23 Oct 2026 08:37:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801577 Equity-oriented mutual-fund units are legally distinct from shares; their redemption therefore falls outside gains from alienation of shares under Article 13(3A) and may receive residual treatment under Article 13(4), subject to treaty entitlement. A Tax Residence Certificate satisfies an eligibility condition but does not conclusively establish entitlement where statutory anti-abuse rules apply. Revenue must identify and establish treaty abuse before invoking substance over form. Treaty relief and Article 27A require factual scrutiny of control, decision-making, regulatory compliance and commercial substance, with an effective opportunity to respond to adverse material. Case-Laws Income Tax Tue, 29 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801577