Singapore entity not conduit, satisfies PPT test; Grants LTCG exemption: ITAT Mumbai

Fullerton Financial Holdings Private Limited Vs DCIT (ITAT Mumbai) ITAT Mumbai: Treaty Benefit Cannot Be Denied to Temasek Entity Merely for Lack of Employees; ITAT Allows Capital Gains Exemption Under India–Singapore DTAA for Temasek Holding Company; ITAT: Principal Purpose Test Not Violated—Singapore Entity’s Investment Pre-2017 Grandfathered; ITAT: Absence of Employees Does Not Make a Company a Shell—Substance Shown Through Governance and Spending; ITAT Upholds DTAA Benefit for Singapore Holding Company—Rejects Shell Company Allegation; ITAT Mumbai: Sovereign Investment Entity Eli...