CIT v. Western India Oil Distributing Co. Ltd.

ISHARES CORE MSCI TOTAL INTERNATIONAL STOCK ETF (AS A SUCCESSOR TO ISHARE CORE TAOTAL INTERNATIONAL STOCK MAURITIUS COMPANY ),MUMBAI vs. DY CIT (INT. TAX)-2(2)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical purposes

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailishares Core Msci Emerging Markets Etf (As A Successor To Ishares Core Emerging Markets Mauritius Company) C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, ............... Appellant Dadar (West), Mumbai - 400028 Pan : Aafci3337N V/S Deputy Commissioner Of Income Tax (International Tax) - 2(2)(2) Room No.606, 6Th Floor, Kautilya Bhavan, ……………… Respondent C-41 To C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Ishares Msci All Country Asia Ex Japan Etf C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai - 400028 Pan : Aabti7439L ............... Appellant

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER iShares Core MSCI Emerging Markets ETF (As a successor to iShares Core Emerging Markets Mauritius Company) C/o Ernst & Young LLP, 17th Floor, The Ruby, 29, Senapati Bapat Marg, ............... Appellant Dadar (West), Mumbai - 400028 PAN : AAFCI3337N v/s Deputy Commissioner of Income Tax (International Tax) - 2(2)(2) Room No.606, 6th Floor, Kautilya Bhavan, ……………… Respondent C-41 to C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 iShares MSCI All C…

ISHARES CORE MSCI EMERGING MARKETS ETF (AS A SUCCESSOR TO ISHARES CORE EMERGING MARKETS MAURITIUS COMPANY ,MUMBAI vs. DCIT (TP) 2(2)(2), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical purposes

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailishares Core Msci Emerging Markets Etf (As A Successor To Ishares Core Emerging Markets Mauritius Company) C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, ............... Appellant Dadar (West), Mumbai - 400028 Pan : Aafci3337N V/S Deputy Commissioner Of Income Tax (International Tax) - 2(2)(2) Room No.606, 6Th Floor, Kautilya Bhavan, ……………… Respondent C-41 To C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Ishares Msci All Country Asia Ex Japan Etf C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai - 400028 Pan : Aabti7439L ............... Appellant

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER iShares Core MSCI Emerging Markets ETF (As a successor to iShares Core Emerging Markets Mauritius Company) C/o Ernst & Young LLP, 17th Floor, The Ruby, 29, Senapati Bapat Marg, ............... Appellant Dadar (West), Mumbai - 400028 PAN : AAFCI3337N v/s Deputy Commissioner of Income Tax (International Tax) - 2(2)(2) Room No.606, 6th Floor, Kautilya Bhavan, ……………… Respondent C-41 to C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 iShares MSCI All C…

PRASHANT KOTHARI,SINGAPORE vs. CIT A (57) MUMBAI, OFFICE OF COMMISSIONER OF APPEALS MUMBAI

In the result, the additional ground of\nappeal is allowed

…t of\nexemption under Article 13 of the DTAA on capital gains, capital losses are also\nexempt. When the issue reached before the Tribunal, the Coordinate Bench\nplacing reliance on the decision in the case of CIT vs. Western India Oil Distributing\nCo. Ltd., 249 ITR 517 (SC) and CIT vs. Manmohan Das 59 ITR 699(SC) and also after\nconsidering CBDT Circular No.22 of 1944 dated 29/07/1944 held that the assessee\nis justified in claiming carry forward of brought forward losses of the earlier years\nto the subsequent years and at the same time upheld assessee's claim of capital\ngains as exempt under the provisions o…

DCIT (IT) - 4(1)(1), MUMBAI, MUMBAI vs. ROBECO INSTITUTIONEEL EMERGING MARKETS FONDS , MUMBAI

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2016-17 Dcit (It)-4(1)(1), Robeco Institutioneel Emerging Markets 625, Kautilya Bhavan, G-Block, Fonds, Vs. Bandra Kurla Complex, C/O Ernst & Young Llp, 14Th Floor, Mumbai-400051. The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan No. Aacts 7682 L Appellant Respondent Assessment Year: 2021-22 Dcit (It)-4(1)(1), Robeco Q1 Institutional Emerging 625, Kautilya Bhavan, G-Block, Markets Enhanced Index Equities Fund, Vs. Bandra Kurla Complex, 14Th Floor, The Rc/O Ernst & Young Mumbai-400051. Llp, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan No. Aabtr 2305 L Appellant Respondent

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SUNIL KUMAR SINGH (JUDICIAL MEMBER) Assessment Year: 2016-17 DCIT (IT)-4(1)(1), Robeco Institutioneel Emerging Markets 625, Kautilya Bhavan, G-Block, Fonds, Vs. Bandra Kurla Complex, C/O Ernst and Young LLP, 14th Floor, Mumbai-400051. The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. PAN NO. AACTS 7682 L Appellant Respondent Assessment Year: 2021-22 DCIT (IT)-4(1)(1), Robeco Q1 Institutional Emerging 625, Kautilya Bhavan, G-Block, Markets Enhanced Index Equities Fund, Vs. Bandra Kurl…

DCIT (IT) 4(1)(1), MUMBAI, MUMBAI vs. ROBECO QI INSTITUTIONAL EMERGING MARKETS ENHANCED INDEX EQUITIES FUND, MUMBAI

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2016-17 Dcit (It)-4(1)(1), Robeco Institutioneel Emerging Markets 625, Kautilya Bhavan, G-Block, Fonds, Vs. Bandra Kurla Complex, C/O Ernst & Young Llp, 14Th Floor, Mumbai-400051. The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan No. Aacts 7682 L Appellant Respondent Assessment Year: 2021-22 Dcit (It)-4(1)(1), Robeco Q1 Institutional Emerging 625, Kautilya Bhavan, G-Block, Markets Enhanced Index Equities Fund, Vs. Bandra Kurla Complex, 14Th Floor, The Rc/O Ernst & Young Mumbai-400051. Llp, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan No. Aabtr 2305 L Appellant Respondent

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SUNIL KUMAR SINGH (JUDICIAL MEMBER) Assessment Year: 2016-17 DCIT (IT)-4(1)(1), Robeco Institutioneel Emerging Markets 625, Kautilya Bhavan, G-Block, Fonds, Vs. Bandra Kurla Complex, C/O Ernst and Young LLP, 14th Floor, Mumbai-400051. The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. PAN NO. AACTS 7682 L Appellant Respondent Assessment Year: 2021-22 DCIT (IT)-4(1)(1), Robeco Q1 Institutional Emerging 625, Kautilya Bhavan, G-Block, Markets Enhanced Index Equities Fund, Vs. Bandra Kurl…

MATRIX PARTNERS INDIA INVESTMENT HOLDINGS, LLC,MAURITIUS vs. DEPUTY COMMISSIONER OF INCOME TAX, MUMBAI

In the result the appeal filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Ms. Padmavathy S ()

…nefit of exemption under Article 13 of the DTAA on capital gains, capital losses are also exempt. When the issue reached before the Tribunal, the Coordinate Bench placing reliance on the decision in the case of CIT vs. Western India Oil Distributing Co. Ltd., 249 ITR 517 (SC) and CIT vs. Manmohan Das 59 ITR 699(SC) and also after considering CBDT Circular No.22 of 1944 dated 29/07/1944 held that the assessee is justified in claiming carry forward of brought forward losses of the earlier years to the subsequent years and at the same time upheld assessee's claim of capital gains as exempt under the provisions of Ar…

MORGAN STANLEY MAURITIUS COMPANY LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-CIRCLE 3(2)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2020-21 Morgan Stanley Mauritius Company Dy. Cit (International Taxation) – Ltd., Circle 3(2)(2), Vs. C/O S R B C & Associates Llp, 14Th 16Th Floor, Room No. 1615, Air India Floor, The Ruby, 29, Senapati Bapat Building Nariman Point, Marg, Dadar (West), Mumbai-400021. Mumbai-400028. Pan No. Aadcm 5927 G Appellant Respondent

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) Assessment Year: 2020-21 Morgan Stanley Mauritius Company Dy. CIT (International Taxation) – Ltd., Circle 3(2)(2), Vs. C/o S R B C & Associates LLP, 14th 16th floor, Room No. 1615, Air India floor, The Ruby, 29, Senapati Bapat Building Nariman Point, Marg, Dadar (West), Mumbai-400021. Mumbai-400028. PAN NO. AADCM 5927 G Appellant Respondent Assessee by : Mr. Sunil Moti Lala Revenue by : Ms. Somogyan Pal, CIT-DR Date of Hearing : 29/08/2024 : 28/10/2024 Date of…

CREDIT SUISSE (SINGAPORE ) LIMITED ,SINGAPORE vs. COMMISSIONER OF INCOME TAX (INTERNATIONAL TAX), MUMBAI-2

In the result, appeals by the assessee for 2016-17 and 2017-18 are allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं. 1007/मुं/2022 ("न.व.2016-17) आअसं. 1008/मुं/2022 ("न.व.2017-18) Credit Suisse (Singapore) Limited, C/O. Delloite Haskins & Sells Chartered Accountants Llp, 30Th Floor, Tower 3, One International Centre, Senapati Bapat Marg, Elphinstone Road (West), Mumbai 400 013 Pan: Aaccc-7328-N ...... अपीलाथ"/Appellant बनाम Vs. Commissioner Of Income Tax (International Taxation) Mumbai-2, 1706, 17Th Floor, Air India Building, ...... ""तवाद"/Respondent Nariman Point, Mumbai 400 038

…nefit of exemption under Article 13 of the DTAA on capital gains, capital losses are also exempt. When the issue reached before the Tribunal, the Coordinate Bench placing reliance on the decision in the case of CIT vs. Western India Oil Distributing Co. Ltd., 249 ITR 517 (SC) and CIT vs. Manmohan Das 59 ITR 699(SC) and also after considering CBDT Circular No.22 of 1944 dated 29/07/1944 held that the assessee is justified in claiming carry forward of brought forward losses of the earlier years to the subsequent years and at the same time upheld assessee’s claim of capital gains as exempt under the provisions of Ar…

CREDIT SUISSE (SINGAPORE ) LIMITED ,SINGAPORE vs. COMMISSIONER OF INCOME TAX (INTERNATIONAL TAX), MUMBAI-2

In the result, appeals by the assessee for 2016-17 and 2017-18 are allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं. 1007/मुं/2022 ("न.व.2016-17) आअसं. 1008/मुं/2022 ("न.व.2017-18) Credit Suisse (Singapore) Limited, C/O. Delloite Haskins & Sells Chartered Accountants Llp, 30Th Floor, Tower 3, One International Centre, Senapati Bapat Marg, Elphinstone Road (West), Mumbai 400 013 Pan: Aaccc-7328-N ...... अपीलाथ"/Appellant बनाम Vs. Commissioner Of Income Tax (International Taxation) Mumbai-2, 1706, 17Th Floor, Air India Building, ...... ""तवाद"/Respondent Nariman Point, Mumbai 400 038

…nefit of exemption under Article 13 of the DTAA on capital gains, capital losses are also exempt. When the issue reached before the Tribunal, the Coordinate Bench placing reliance on the decision in the case of CIT vs. Western India Oil Distributing Co. Ltd., 249 ITR 517 (SC) and CIT vs. Manmohan Das 59 ITR 699(SC) and also after considering CBDT Circular No.22 of 1944 dated 29/07/1944 held that the assessee is justified in claiming carry forward of brought forward losses of the earlier years to the subsequent years and at the same time upheld assessee’s claim of capital gains as exempt under the provisions of Ar…

DEVESH N SHAH,MUMBAI vs. ITO 7(2)(4), MUMBAI

In the result, the appeal filed by the assessee in ITA N0

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.778/Mum/2014 ("नधा"रण वष" / Assessment Year : 2009-10) Devesh N. Shah, Income Tax Officer, बनाम/ Rashmi Zaveri & Co., 7(2)(4), V. Chartered Accountants, Mumbai. Arham, Ground Floor, Plot 266, Sion (E), Mumbai – 400022. "थायी लेखा सं./Pan : Abvps5960P (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

…rted by the decision of Hon’ble Bombay High Court in the case of Western India Oil Distributing Co. Limited v. CIT (1980) 126 ITR 497(Bom.) which was affirmed by Hon’ble Supreme Court in CIT v. Western India Oil Distributing Company Limited reported in (2001) 249 ITR 517(SC). This proposition of law was also followed in one of cases cited by learned counsel of the assessee , decided by the Mumbai Tribunal in Gajendra Kumar T. Agarwal v. ITO reported in (2011) 11 ITR (Trib.) 640(Mumbai). This disposes of ground no 2 raised by the assessee in memo of appeal filed with the Tribunal which is adjudicated by allowing t…