Indian SC to hear E*Trade case on Friday
13 February 2012
Jack Grocott
India’s Supreme Court will begin hearing the case of E*Trade Mauritius on Friday. The case relates to the taxation of capital gains arising from the transfer of shares from a Mauritius to an Indian company.
India's tax authorities decided in June last year to challenge the E*Trade Mauritius advance ruling, more than a year after the original decision was made.
In March 2010 the Authority for Advance Rulings (AAR) held that the capital gains arising were not liable to tax.
The AAR ruled that such gains will be liable to tax only in Mauritius under the treaty between the two countries.
The decision confirmed the position that a certificate of residence issued by the Mauritius tax authorities will constitute sufficient evidence for...
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