Taxability of capital gains in one of contracting states is not necessary to avail treaty benefits in other contracting state

RELEVANT PARAGRAPH 1. By way of this appeal, the assessee appellant has called into question correctness of order dated 7th February 2006, passed by the learned CIT (A) for the assessment year 2000- 091, holding that the assessee is liable to pay tax on short term capital gains on sale of shares. 2. The controversy requiring our adjudication is set out in a very narrow compass of narrow and undisputed facts. The assessee before us is a resident of United Arab Emirates and her fiscal domicile is in the UAE. On this basis, she has claimed benefit of the Double Taxation Avoidance Agreement entere...