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ITAT Mumbai Allows Carry Forward of Capital Loss Despite Exempt Gains Under DTAA
Case Law Details
- Case Name
- Goldman Sachs (Singapore) Pte Vs ACIT ( ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Mumbai
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Goldman Sachs (Singapore) Pte Vs ACIT ( ITAT Mumbai)
ITAT Mumbai delivers big relief to Goldman Sachs (Singapore) – Capital gains exempt under DTAA, but capital losses can still be carried forward under the Act
Assessee, Goldman Sachs (Singapore) Pte, is a SEBI-registered Foreign Portfolio Investor & a tax resident of Singapore. It invests in Indian capital markets, earns capital gains, dividend & interest. In AY 2016-17, it earned short-term capital gains of ₹888.94 crore & long-term capital gains of ₹13.18 crore. Since Article 13 of the India–Singapore DT...
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