Treaty benefits - ‘gains from alienation of shares' - taxability ...

Tax Tribunal Rules Capital Gains Exempt Under India-Mauritius DTAA, Allowing Taxpayer to Claim Benefits on Equity Sale.

February 8, 2024

Case Laws     Income Tax     AT

Treaty benefits - ‘gains from alienation of shares' - taxability or otherwise of capital gain from sale of equity shares under Article 13(4) of India-Mauritius DTAA - The ITAT observed that, No doubt, the assessee has offered the capital gain under Article 13(3B) of the Treaty in its revised return. However, that will not preclude the assessee from claiming benefit under Article 13(4) of the Treaty when the capital gain clearly falls within the ambit of Article 13(4) of the Treaty. - Accordingly, ITAT allowed the claim of the assessee.

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