Is beneficial ownership a relevant criterion when a company resident in Mauritius is seeking to claim treaty benefits under Article 13 of the India-Mauritius DTAA?
In a recent ruling delivered by the Mumbai Income-Tax Appellate Authority (“ITAT”), the ITAT considered whether the beneficial ownership of shares is a relevant criterion for a taxpayer, under the India-Mauritius Double Taxation Avoidance Agreement (the “DTAA”), to avail itself of capital gains tax benefits under Article 13 of the DTAA. Background The issue was […]