In a recent ruling, the Income Tax Appellate Tribunal, Delhi (“Tribunal”) recognized and upheld the importance of the Tax Residency Certificate (“TRC”) and held that a Mauritius-based Collective Investment Vehicle (“CIV”) registered as a Foreign Portfolio Investor (“FPI”) by the Securities and Exchange Board of India (“SEBI”) is entitled to the benefits provided under the… Continue reading Tribunal emphasizes importance of TRC: Upholds eligibility of Mauritius based CIV for tax treaty benefits