Capital loss incurred under the provisions of the Act r/w art. 13(5) of the India-Ireland DTAA cannot be set off against short-term capital gain derived from the sale of rights entitlement because such gain is not subject to tax in India as per art. 13(6) of the DTAA. (AY.2021-22)
Vanguard Emerging Markets Stock Index Fund A Series Of Visplc v.ACIT (IT) (2025) 234 TTJ 801 / 125 ITR 128/ 172 taxmann.com 515 (Mum)(Trib)
S. 45: Capital gains-Capital loss-Carry forward and set off by non-resident-Capital loss incurred under the provisions of the Act r/w art. 13(5) of the India-Ireland DTAA cannot be set off against short-term capital gain derived from the sale of rights entitlement because such gain is not subject to tax in India as per art. 13(6) of the DTAA DTAA-India-Ireland [Art. 13(6)]
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