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

capital gains that are already exempt under the provisions of DTAA cannot enter into computation of total income of the assessee in India, and therefore, the loss incurred by the taxpayer from the sale of non-grandfathered shares cannot be set off against the gain, which is exempt from taxation in India, as per Article 13(4) of the India

TATA COMMUNICATIONS LIMITED,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX, MUMBAI

In the result, the question of law referred to the Special Bench is answered in favour of the assessee

Bench: Shri Saktijit Dey & Shri Arun Khodpiatata Communications Limited Pr. Cit, Videsh Sanchar Bhavan, Mumbai-1 Vs. M. G. Road, Fort, Mumbai-400 001 Pan/Gir No. Aaacv 2808 C (Appellant) : (Respondent) Appellant By : Shri J. D. Mistri Respondent By : Shri Ritesh Misra, Cit Dr Date Of Hearing : 25.09.2025 Date Of Pronouncement : 25.09.2025 O R D E R Per Saktijit Dey: The Present Appeal, At The Instance Of The Assessee, Assails Order Dated 21.03.2025, Passed U/S. 263 Of The Income Tax Act, 1961 (‘The Act’ For Short), By Learned Principal Commissioner Of Income Tax (‘Ld. Pcit’ For Short), Pertaining To The Assessment Year (A.Y.) 2018-19. 2. Though The Assessee Has Raised Multiple Grounds, Both On Jurisdictional Issues As Well As On Merits, However, There Is Consensus Between The Parties That The Appeal Can Be Decided On Merits, In Which Event, There Is No Need To Go Into Various Other Issues Raised In Appeal.

Income Tax (Appeals) 11. Aayakar Bhavan North Block, Manachira, Calicut, vide Order dated 23-6-2004 in Appeal NO.ITA57/M/00-01, inter alia, on the following basis- "In other words, in our view, the building which was acquired by the assessee in 1974 and in respect of which depreciation was allowed to it as a business asset for 21 years, that

SAMIR NARAIN BHOJWANI ,MUMBAI vs. DCIT 4(2)(1), MUMBAI

Appeal of the assessee is allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

income tax calculated on such a long term capital gain shall be the rate of 20%. Thus, even section 50 treats that excess is to be taxed as capital gain arising from transfer of a short term capital asset but the rate of tax has to be applicable in terms of section 112 of the Act, because the treatment

ACIT 421 MUMBAI, MUMBAI CITY vs. SAMIR NARAIN BHOJWANI, MUMBAI

Appeal of the assessee is allowed for statistical purposes and the\nappeal of the revenue is dismissed

income tax calculated on such a long\nterm capital gain shall be the rate of 20%. Thus, even section 50 treats that excess is\nto be taxed as capital gain arising from transfer of a short term capital asset but the\nrate of tax has to be applicable in terms of section 112 of the Act, because the\ntreatment

EMPLOYEES RETIREMENT SYSTEM OF TEXAS ,MUMBAI vs. DY CIT (INT. TAX)-2(2)(1), MUMBAI

The appeals are partly allowed

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

income. Further, the Assessing Officer is also directed to grant the benefit of set off of brought forward Short Term Capital Loss of INR.31,96,04,829/-. The additional demand raised on the Assessee on account of re-computation of capital gains

FIDELITY SALEM STREET TRUST FIDELITY SAI EMERGING MARKETS INDEX FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(3)(1), MUMBAI

The appeals are partly allowed

Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

income. Further, the Assessing Officer is also directed to grant the benefit of set off of brought forward Short Term Capital Loss of INR.31,96,04,829/-. The additional demand raised on the Assessee on account of re-computation of capital gains

ISHARES MSCI EMERGING MARKETS ETF (AS A SUCCESSOR TO ISHARES EMERGING MARKETS INDEX MAURITIUS CO ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

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

capital\ngains. Therefore, existence of a taxable income is a precondition for a set of\nlosses against such income. In this appeal, the gains of Rs.26,36,44,954/-\nare admittedly exempt by virtue of article 13(4) of the treaty. The said gains,\ntherefore, cannot be termed as income for the purpose of section 74 of the\nAct

SCHWAB EMERGING MARKETS EQUITY ETF ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION -4(2)(1), MUMBAI

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

capital\ngains. Therefore, existence of a taxable income is a precondition for a set of\nlosses against such income. In this appeal, the gains of Rs.26,36,44,954/-\nare admittedly exempt by virtue of article 13(4) of the treaty. The said gains,\ntherefore, cannot be termed as income for the purpose of section 74 of the\nAct

ISHARES CORE MSCI EM IMI UCITS ETF,MUMBAI vs. DCIT (INT)-2(2)(2), MUMBAI

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

capital\ngains. Therefore, existence of a taxable income is a precondition for a set of\nlosses against such income. In this appeal, the gains of Rs.26,36,44,954/-are admittedly exempt by virtue of article 13(4) of the treaty. The said gains,\ntherefore, cannot be termed as income for the purpose of section 74 of the\nAct

ISHARES CORE MSCI EMERGING MARKETS ETF (AS A SUCESSOR TO ISHARES CORE EMERGING MARKETS MAURITIUS COMPANY),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) 2(2)(2), MUMBAI

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

capital\ngains. Therefore, existence of a taxable income is a precondition for a set of\nlosses against such income. In this appeal, the gains of Rs.26,36,44,954/-\nare admittedly exempt by virtue of article 13(4) of the treaty. The said gains,\ntherefore, cannot be termed as income for the purpose of section 74 of the\nAct

ISHARES MSCI ALL COUNTRY ASIA EX JAPAN ETF(AS A SUCCESSOR TO ISHARES MSCI ALL COUNTRY ASIA EX JAPAN MAURITIUS CO),MUMBAI vs. DCIT (INT)-2(2)(2), MUMBAI

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

capital\ngains. Therefore, existence of a taxable income is a precondition for a set of\nlosses against such income. In this appeal, the gains of Rs.26,36,44,954/-.\nare admittedly exempt by virtue of article 13(4) of the treaty. The said gains,\ntherefore, cannot be termed as income for the purpose of section 74 of the\nAct

ISHARES INDIA 50 ETF (AS A SUCCESSOR TO ISHARES INDIA MAURITIUS CO ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

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

capital\ngains. Therefore, existence of a taxable income is a precondition for a set of\nlosses against such income. In this appeal, the gains of Rs.26,36,44,954/-are admittedly exempt by virtue of article 13(4) of the treaty. The said gains,\ntherefore, cannot be termed as income for the purpose of section 74 of the\nAct

ISHARES EMSC MAURITIUS CO ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(2)(2), MUMBAI

In the result appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

addition by taxing the gross amount of short-term capital gain chargeable to tax at the rate of 30% without setting of the same against current year short-term capital loss attributable to transaction on which security transaction tax is paid and without allowing the brought forward short-term capital loss. Therefore, assessee is in appeal. The assessee has stated

ISHARES MSCI EM UCITS ETF USD DIST ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

In the result appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

addition by taxing the gross amount of short-term capital gain chargeable to tax at the rate of 30% without setting of the same against current year short-term capital loss attributable to transaction on which security transaction tax is paid and without allowing the brought forward short-term capital loss. Therefore, assessee is in appeal. The assessee has stated

ISHARES MSCI EM IMI ESG SCREENED UCITS ETF,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

In the result appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

addition by taxing the gross amount of short-term capital gain chargeable to tax at the rate of 30% without setting of the same against current year short-term capital loss attributable to transaction on which security transaction tax is paid and without allowing the brought forward short-term capital loss. Therefore, assessee is in appeal. The assessee has stated

ISHARES MSCI INDIA UCITS ETF,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

In the result appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

addition by taxing the gross amount of short-term capital gain chargeable to tax at the rate of 30% without setting of the same against current year short-term capital loss attributable to transaction on which security transaction tax is paid and without allowing the brought forward short-term capital loss. Therefore, assessee is in appeal. The assessee has stated

ISHARES MSCI EM UCITS ETF USD ACC,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

In the result appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

addition by taxing the gross amount of short-term capital gain chargeable to tax at the rate of 30% without setting of the same against current year short-term capital loss attributable to transaction on which security transaction tax is paid and without allowing the brought forward short-term capital loss. Therefore, assessee is in appeal. The assessee has stated

ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

capital gains of Rs. 36,30,53,2577- be deleted. be deleted. ROUND NO. 2 - ADDITION OF RS. ADDITION OF RS. 27.97,9357- TO BOOK PROFITS U/S. 115JB IN TO BOOK PROFITS U/S. 115JB IN RESPECT OF EXPENDITURE INCURRED IN RELATION TO EXEMPT INCOME

THE BOMBAY DYEING & MANUFACTURING COMPANY LTD.,,MUMBAI vs. DCIT, C--2(1), MUMBAI, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

capital gains of Rs. 36,30,53,2577- be deleted. be deleted. ROUND NO. 2 - ADDITION OF RS. ADDITION OF RS. 27.97,9357- TO BOOK PROFITS U/S. 115JB IN TO BOOK PROFITS U/S. 115JB IN RESPECT OF EXPENDITURE INCURRED IN RELATION TO EXEMPT INCOME