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2011 (11) TMI 15 - AAR - Income TaxSale of shares of Indian Company - non resident company - Mauritius Tax Treaty - TDS - Held that:- capital gains on the proposed sale of shares by the applicant to Ardex Beteligungs-GmbH is not chargeable to tax on capital gains in India in view of Article 13.4 of the India-Mauritius Tax Treaty. - the applicant would be entitled to receive the sale proceeds without the deduction of tax at source. Filing of income tax return - held that:- Since the shares to be transferred are the shares of an Indian company which would otherwise have been taxable under the provisions of the Income-tax Act, we rule that the applicant is bound to file a return of income in India in respect of the income from the proposed transfer of the shares.
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