Capital gains from shares held by Mauritius companies taxable in India; AAR applications rejected and Chapter X-A applies from 01.04.2017

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....Capital gains arising on sale of shares held by Mauritius-incorporated companies are taxable in India where residence and treaty relief are contestable and transactions lack commercial substance; the article finds documentary timelines, post hoc board approvals, contra-factual tax positions and a shifted evidentiary burden establish a prima facie tax-avoidance scheme enabling anti-avoidance doctrines (including GAAR and substance-over-form) to pierce the structure, with applications for advance rulings rejected under the relevant proviso and Chapter X-A applying to transfers on or after 01.04.2017.....