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2012 (7) TMI 497 - AAR - Income TaxIndia-Mauritius Double Taxation Avoidance Convention - capital gain on sale of shares - Held that:- The applicant has a Tax Residency Certificate from Mauritius is registered as a Foreign Venture Capital Investor considering Article 13 of the DTAC would govern such a transaction and under paragraph 4 of that Article, the capital gain that may arise would be taxable only in Mauritius and not in India - the buyer of the shares has no obligation to withhold taxes under section 195 of the Income-tax Act.
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