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ITAT: Goldman Sachs can opt for more beneficial I-T Act provisions and carry forward short-term cap losses

ITAT: Goldman Sachs can opt for more beneficial I-T Act provisions and carry forward short-term cap losses © Provided by The Times of India MUMBAI: The Mumbai bench of the Income-tax Appellate Tribunal (ITAT) has held that Goldman Sachs India Investments, a Singapore resident entity, which is registered as a Foreign Institutional Investor (FII) in India, can rely on the provisions of the Income-tax (I-T) Act, if these are more beneficial. Section 90 (2) of the I-T Act provides that if a taxpayer is covered by a tax treaty entered into by India, then the provisions of the Act shall apply to the extent these are more beneficial.

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