Application of GAAR Provisions cannot be a ground for denial of Tax benefit under India- Singapore DTAA
Last updated: 21 March 2023
Court :
ITAT, New Delhi
Brief :
The ITAT, New Delhi in Reverse Age Health Services Pte Ltd v. DCIT [ITA No.1867Del/2022 dated February 17, 2023] has directed the Revenue Department to delete the disallowance of Short Term Capital Gains ("STCG") and allow the benefit of the provisions of an India- Singapore Double Taxation Avoidance Agreements ("DTAA") to the assessee on the grounds that Section 90 (2) of the Income Tax Act, 1961 ("the IT Act") allows the provisions of a DTAA to supersede the provisions of the IT Act, in case their application is more beneficial. Held that, though domestic GAAR provisions are applicable, the treaty benefit cannot be denied to the assessee.
Citation :
ITA No.1867 Del/2022 dated February 17, 2023
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Bimal Jain
Published in Income Tax
Views : 305
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