ITAT upholds cap-gain exemption to Mauritius entity, for shares acquired prior to April 1, 2017
The Income-tax Appellate Tribunal (ITAT), Mumbai bench, in the case of Comstar-Mauritius has upheld the exemption of long-term capital gains (available under Article 13 of the India-Mauritius tax treaty) on sale of equity shares of an Indian company, which were acquired prior to April 1, 2017. It has overturned a revisionary order passed by the Commissioner of Income-tax (Appeals).
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