Economic TimesLean R·
Taxman's JAARing move opens big new debate
Mumbai: In an unsettling decision, the Indian tax office has invoked the Judicial Anti Avoidance Rule (JAAR) to deny treaty benefits to a few Mauritius funds on sale of 'grandfathered shares'.Under the India-Mauritius amended treaty, there is no capital gains tax on profits from sale of grandfathered shares which refer to securities bought before April 1, 2017.Tax officials have typically used General Anti-Avoidance Rules (GAAR) to quash treaty benefits whenever they suspected that a foreign in…
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