Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (7) TMI 460 - AT - Income TaxTaxability in India - capital gain arising on the sale of immovable property in Colombo, Sri Lanka - DTAA - Held that:- The income of the assessee earned on capital gains on sale of immovable property situated in Sri Lanka during relevant previous year shall be chargeable to tax only in Sri Lanka by Government of the Democratic Socialist Republic of Sri Lanka, while the same income shall be included in the income of the assessee chargeable to tax in India under the provisions of the Act and the relief shall be granted in the manner laid down in the notification no 91 of 2008 dated 28-08-2008 issued by the Central Government read with DTAA entered into by India and Sri Lanka and provisions of the Act to avoid double taxation and prevention of fiscal evasion of the taxes.
|