ITAT Mumbai Allows Carry Forward of Capital Loss Despite Exempt Gains Under DTAA

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 DTAA grants exclusi...