LTCG on Sale of Shares : ITAT Grants stay to Mauritius based company

Blackstone FP Capital Partners Mauritius V Limited Vs DCIT (ITAT Mumbai) Undoubtedly, the core issue arising for consideration in the corresponding appeal of the assessee is, whether the long term capital gain arising out of sale of shares of an Indian company would be taxable in India. It is the stand of the assessee that since the assessee is having a TRC issued by Mauritius Revenue Authority, long term capital gain would not be taxable in terms of the treaty provisions. However, taxability or otherwise of long term capital gain has to be considered on substantive basis while dealing with th...