Certificates issued by Singapore Tax Authorities is sufficient evidence for accepting legal position

CIT Vs Citicorp Investment Bank (Bombay High Court) Bombay High Court held that certificates issued by the Singapore Tax Authorities certifying that capital gain income would be brought to tax in Singapore is sufficient evidence for accepting the legal position. Facts- The assessee, i.e., respondent is a tax resident of Singapore. The assessee is registered as a Foreign Institutional Investor (FII) in debt segment with Securities and Exchange Board of India (SEBI). The assessee has been investing in debt securities in India during the year in consideration, which is A.Y.-2010-2011. The assesse...