DTAA Benefit Granted on LTCG and Dividends to Cyprus-based company

Gagil FDI Limited Vs ACIT (ITAT Delhi) The case concerns Gagil FDI Limited, a company incorporated in Cyprus, which appealed against an assessment order dated 29 April 2024 for the assessment year 2021–22 under Sections 143(3) and 144C(13) of the Income Tax Act, 1961. The primary dispute relates to whether the assessee was entitled to benefits under the India–Cyprus Double Taxation Avoidance Agreement (DTAA) for long-term capital gains (LTCG) and dividend income arising from the sale of shares of the National Stock Exchange of India Ltd. (NSEIL). Gagil FDI Limited, a wholly owned subsidiar...