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AAR – Substance over form overlooked, Treaty shopping upheld, reliance placed on azadi bachao andolon case
Case Law Details
- Case Name
- Re. Dynamic India Fund I (AAR Delhi)
- Appeal Number
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- Advance Rulings
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The argument that unless the capital gain is actually taxed in Mauritius the DTAC would not apply in the context of section 90(1) and section 90(2) of the Act, though attractive, cannot be entertained in view of the decision in Union of India vs. Azadi Bachao Andolan. Even though capital gain is not actually taxed in Mauritius, the question raised is seen to be concluded by the decision in Union of India vs. Azadi Bachao Andolan. If it wants to, it is for the revenue to canvass the question before the Supreme Court. This Authority is bound by that decision. Here, the assets ...
