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2022 (10) TMI 1208 - AT - Income TaxBeneficial provisions of the India - Mauritius DTAA in respect of STCG - setting off the brought forward Short/Long Term Capital Losses with the current year Short/Long Term Capital Gains as exempted as per India Mauritius DTAA - whether relevant Articles of the DTAA has to be taken on the net taxable income calculated after giving effect to all the provisions of the IT Act including Section 74 as argued by revenue? - HELD THAT:- Tribunal in the case of Goldman Sachs Investments (Mauritius) Ltd. [2020 (9) TMI 1049 - ITAT MUMBAI] rejected the aforesaid contention of the Revenue holding that the Assessee was entitled to claim benefit of Article 13(4) of DTAA in respect of the entire current year Short/Long Term Capital Gains (without setting of the Brought Forward Short/Long Term Capital Gains). The Tribunal also permitted carry forward of the Brought Forward Short/Long Term Capital Gains to the subsequent assessment years holding that the Short/Long Term Capital Loss permitted to be carried forward in a previous assessment could not be reviewed in the assessment proceedings of a subsequent assessment year. Thus we find merit in the contention of Assessee that all the issues raised by the Revenue in the present appeal stand decided in favour of the Assessee.
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