Assessee is a non-resident Indian \u00a0and is a resident of Singapore . The assessee has shown exemption in respect of \u00a0capital gains earned on\u00a0 sale of\u00a0 Mutual fund is\u00a0 exempt as she is the tax residence of Singapore as per\u00a0 13of the\u00a0 DTAA . \u00a0The AO denied the exemption. \u00a0The DRP affirmed the denial of exemption by the AO. On appeal the Tribunal held that \u00a0the short term capital gains arising from sale\/redemption of mutual fund units would fall within the ambit of Para 5 of Article 13 of DTAA between India and Singapore. Para 5 of Article 13 of India Singapore DTAA reads as under:<\/p>\n
“5. Gains from the alienation of any property other than that referred to in paragraphs 1,2,3,4A and 4B of this Article shall be taxable only in the Contracting State of which the alienator is a resident.”<\/p>\n
Accordingly the Tribunal deleted the addition . Followed , ITO v. Satish Beharilal Raheja (2013) 137\u00a0 taxmann.com 296 (Mum)( Trib)\u00a0 (ITA No. 174\/Mum\/ 2025 dt\u00a0 26 -3 2025 )( AY .2022 -23 )<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 90 :Double taxation relief – Capital gains \u2013 Mutual fund Units \u2013 Singapore resident – Sale\/redemption of mutual fund units would be covered Article 13 of DTAA – Not taxable in India \u2013 DTAA – India \u2013 Singapore. [ Art. 13(4), 13(5) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-52496","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dEI","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=52496"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52496\/revisions"}],"predecessor-version":[{"id":56048,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52496\/revisions\/56048"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}