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TrAnSfer of ASSeTS by nr To reSidenT indiAn noT To be deemed AS A meAnS of TAx AVoidAnCe
also held that India-Mauritius DTAA was of assets by non-resident to resident brings
applicable to Apex and capital gain was not about much clarity on the issue. It would be
taxable in India in its hands. appropriate if the CBDT issues appropriate
clarification on the issue, so as to remove
Conclusion any impending/future litigation on the issue.
3. The decision of the ITAT that section lll
93 cannot be invoked in case of transfer
154 January 20 To January 26, 2018 u Taxmann’s Corporate Professionals Today u Vol. 41 u 48