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Mumbai: The Delhi High Court’s judgement in the case of Tiger Global’s capital gains tax exemption from share sales will give confidence to entities in Mauritius that invest in India and set a precedent for legal disputes, a top official of the island country’s premier industry body said. Last month, the Delhi High Court overturned an order of the Authority …

Long Term Capital Gain On Sale Of Shares By Mauritius Company Is Not Liable To Be Taxed In India: ITAT

The Delhi Bench of Income Tax Appellate Tribunal has held that long-term capital gain on sale of shares by Mauritius Company is not liable to be taxed in India.The bench of Vikas Awasthy and Naveen Chandra has observed that the assessee had claimed long-term capital gains arising from the sale of shares as exempt from tax in light of Article …

Tax

FPIs withdraw ₹8,600 cr from equities in April on Mauritius tax treaty, US bond yields rise

New Delhi, May 1 After infusing money for two straight months, foreign investors turned net sellers in April with the dumping of Indian equities worth ₹8,700 crore on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields. FPIs withdraw ₹ 8,600 cr from equities in April on Mauritius tax treaty, US …

The Mumbai ITAT upheld the exemption of long-term capital gain granted to the Assessee, holding a valid Tax Residency Certificate, under Article 13 of India-Mauritius DTAA, on sale of equity shares of an Indian company, acquired prior to April 01, 2017. The Division Bench comprising Prashant Maharishi and Sandeep Singh Karhail observed that “the assessment order passed by the learned …

Investigative reporters network says it has documents backing Hindenburg’s claims that Adani Group used offshore tax havens to drive up share price. Citing a review of files from multiple tax havens and internal Adani Group emails, the Organised Crime and Corruption Reporting Project said on Thursday that two individual investors – Nasser Ali Shaban Ahli from Dubai and Chang Chung-Ling …

The Delhi Bench of the Income Tax Appellate Tribunal has held that the benefits of the Double Taxation Avoidance Agreement are available to collective investment vehicles.The bench of Saktijit Dey and Dr. B. R. R. Kumar has observed that the TRC is statutorily the only evidence required to be eligible for the benefit under the DTAA, and. The Delhi Bench …

Shares Transferred By Redington India To Its Step Down Subsidiary Not Eligible For Tax Exemption: Madras High Court

The Madras High Court has held that transfer of shares by Redington India to its step down subsidiary cannot be categorized as valid gift and is not eligible for tax exemption.The court observed that the incorporation of the company in Mauritius and Cayman Island just before the transfer of shares is undoubtedly a means to avoid taxation in India and …

Income Tax

Tiger Global moves Delhi High Court against Flipkart tax ruling

Mumbai: New York-based private equity investor Tiger Global on Monday moved the Delhi High Court against the quasi-judicial body ruling. Tiger Global had claimed nil withholding tax on the capital gains, since its investment firms, which made the Flipkart investment, were based in Mauritius and were set up before 2017. “Tiger Global and its Mauritius entities have enough protection in …