Sec. 9 of Income Tax Act, 1961 – Income – Assessee filed the appeal against the assessment framed by the A.O under Section 143(3) r.w.s 144C(13) of the IT Act, 1961 on the grounds that AO passed the order in violation of the statutory provisions under the Act without compliance with the principles of natural justice and also erred in holding that gains arising from the transfer of shares of "Accelyst Singapore" is liable to tax in India under the "Tax Treaty" in question. ITAT allowed the appeal of the assessee holding that:–the gains arising from the transaction of transfer of shares of Accelyst Pte. Ltd., Singapore by the assessee company are not chargeable to tax in India as per the India-Belgium tax treaty, therefore, refrained from adverting to chargeability of the same under the provisions of the Income-tax Act, 1961, which having been rendered as academic in nature are thus left open. Accordingly, set aside the order passed by the A.O under Sec. 143(3) r.w.s 144C(13), and vacate the addition of STCG made in the hands of the assessee – SOFINA S.A. Vs. ASSTT. CIT [2020] 79 ITR (TRIB) 489 (ITAT-MUMBAI)