GENPACT INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX
C.A. No.-008945-008945 - 2019Supreme Court22 Nov 2019
Bench: HON'BLE THE CHIEF JUSTICE
Section 115QSection 143(2)Section 77A
u/s 46A in the
hands of shareholders. However, taking the benefit of
Article 13 of India-Mauritius DTAA, which provides
for capital gain arising on transfer of shares of
Mauritius resident taxable in that country and under
Mauritius tax laws capital gain is totally exempt,
entire transaction used to escape the tax net. Thus to
plug this loop hole
