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Valid TRC Enough for DTAA Benefits; Mere Shell Company Allegation Can’t Override Treaty Protection
Case Law Details
- Case Name
- CPI India I Ltd. Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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CPI India I Ltd. Vs ACIT (ITAT Delhi)
Valid TRC suffices for DTAA benefit; vague allegations of being a shell company can’t override treaty protection- Long-term capital gains/losses on pre-2017 investments of a Mauritius resident are not taxable in India.
Assessee, a Mauritius-based investment holding company with a valid Tax Residency Certificate (TRC), reported a long-term capital loss of ₹51.87 crore on sale of unlisted shares of BPTP Ltd. and claimed exemption under Article 13(4) of the India–Mauritius DTAA.
AO & DRP rejected the claim, treating the company as a...
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