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

1) where assessee suffers loss in respect of any source under any head of income other than capital gain, assessee is entitled to have the amount of such loss set of against his income from any other source under the same had. Therefore, these provisions speaks about inter head adjustment other than the head of capital gains. For capital gains

RELIANCE POWER LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 15(3)(1), MUMBAI

In the result, ground of appeal raised by assessee is allowed

Bench: Shri Pawan Singh& Shri Omkareshwar Chidara(Physical Hearing) Dcit – 15(3)(1), Mumbai Reliance Power Limited Room No. 460, 4Th Floor, H-Block, 1St Floor, Dhirubhai Ambani Vs Aayakar Bhavan, M.K. Road, Knowledge City, Koperkhairane, Mumbai – 400020] Navi Mumbai-400710 [Pan: Aaacr2365L] Appellant / Revenue Respondent / Assessee Reliance Power Limited Dcit – 15(3)(1), Mumbai Room No. 460, 4Th Floor, Aayakar Reliance Centre, Ground Floor, 19 Vs Walchand Hirachand Marg, Bhavan, M.K. Road, Ballard Estate, Mumbai – 400001. Mumbai – 400020] [Pan: Aaacr2365L] Appellant / Assessee Respondent / Revenue

capital gains. 3. Your appellant craves leaves to add to alter, amend or vary all or any of the aforesaid ground of appeal as they/their representative may deem fit.” 3. Further, on service of memorandum of appeal of revenue, the assessee has filed cross-objection raising following grounds of appeal: “1. On the facts and circumstances of the case

DCIT CEN 5 3, MUMBAI, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

1 Rule 2 and nothing else. Therefore, exemption under section 10 i.e nothing else. Therefore, exemption under section 10 i.e nothing else. Therefore, exemption under section 10 i.e 10(38), 10(15) & 10(34) cannot be granted to an assessee 10(38), 10(15) & 10(34) cannot be granted to an assessee 10(38), 10(15) & 10(34) cannot

DCIT CEN 5 3, MUMBAI, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

1 Rule 2 and nothing else. Therefore, exemption under section 10 i.e nothing else. Therefore, exemption under section 10 i.e nothing else. Therefore, exemption under section 10 i.e 10(38), 10(15) & 10(34) cannot be granted to an assessee 10(38), 10(15) & 10(34) cannot be granted to an assessee 10(38), 10(15) & 10(34) cannot

DCIT CEN 5 3, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

1 Rule 2 and nothing else. Therefore, exemption under section 10 i.e nothing else. Therefore, exemption under section 10 i.e nothing else. Therefore, exemption under section 10 i.e 10(38), 10(15) & 10(34) cannot be granted to an assessee 10(38), 10(15) & 10(34) cannot be granted to an assessee 10(38), 10(15) & 10(34) cannot

DCIT CEN 5 3, MUMBAI, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

1 Rule 2 and nothing else. Therefore, exemption under section 10 i.e nothing else. Therefore, exemption under section 10 i.e nothing else. Therefore, exemption under section 10 i.e 10(38), 10(15) & 10(34) cannot be granted to an assessee 10(38), 10(15) & 10(34) cannot be granted to an assessee 10(38), 10(15) & 10(34) cannot

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.

1) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in law in holding that capital gain arising from transfer of depreciable assets was liable to be set off against brought forward Long Term Capital Loss without appreciating that under section 50 of the Income Tax Act, 1961 such capital gain

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

10 August, 2005 and the four Deeds of Confirmation all dated 28th November, 2007 and the four Deeds of Apartment three dated 19th October, 2013 and one dated 25th November, 2013 all executed by the Plaintiff through Defendant No.1 and Defendant No. 1 and Defendant No.2 in respect of the said Flats are valid, subsisting and binding upon the Plaintiff

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

10\nAugust, 2005 and the four Deeds of Confirmation all dated 28th November,\n2007 and the four Deeds of Apartment three dated 19th October, 2013 and\none dated 25th November, 2013 all executed by the Plaintiff through\nDefendant No.1 and Defendant No. 1 and Defendant No.2 in respect of the\nsaid Flats are valid, subsisting and binding upon the Plaintiff

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)

section 111A. The assessee also suffered short term capital loss of Rs.7.17,660/- in transactions in shares involving payment of security transaction tax. In the impugned order the A.O. computed the capital gain in the following manner without discussing any reasons for adopting such mode of computation. Calculation of income/loss from capital gain Short term capital loss with

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)

section 111A. The assessee also suffered short term capital loss of Rs.7.17,660/- in transactions in shares involving payment of security transaction tax. In the impugned order the A.O. computed the capital gain in the following manner without discussing any reasons for adopting such mode of computation. Calculation of income/loss from capital gain Short term capital loss with

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

1,55,58,719)\n2,95,96,810\n4,60,58,240\n6.\nAccordingly, the AO computed the net short-term capital gains\namounting to Rs.2,95,96,810 taxable at 15% under section 111A of the Act\nand the net short-term capital gains amounting to Rs.4,60,58,240 taxable at\n30% under section 115AD

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

1) where assessee suffers loss in\nrespect of any source under any head of income other than capital gain,\nassessee is entitled to have the amount of such loss set of against his income\nfrom any other source under the same had. Therefore, these provisions speaks\nabout inter head adjustment other than the head of capital gains. For capital\ngains

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

1) where assessee suffers loss in\nrespect of any source under any head of income other than capital gain,\nassessee is entitled to have the amount of such loss set of against his income\nfrom any other source under the same had. Therefore, these provisions speaks\nabout inter head adjustment other than the head of capital gains. For capital\ngains

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

1) where assessee suffers loss in\nrespect of any source under any head of income other than capital gain,\nassessee is entitled to have the amount of such loss set of against his income\nfrom any other source under the same had. Therefore, these provisions speaks\nabout inter head adjustment other than the head of capital gains. For capital\ngains

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

1) where assessee suffers loss in\nrespect of any source under any head of income other than capital gain,\nassessee is entitled to have the amount of such loss set of against his income\nfrom any other source under the same had. Therefore, these provisions speaks\nabout inter head adjustment other than the head of capital gains. For capital\ngains

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

1) where assessee suffers loss in\nrespect of any source under any head of income other than capital gain,\nassessee is entitled to have the amount of such loss set of against his income\nfrom any other source under the same had. Therefore, these provisions speaks\nabout inter head adjustment other than the head of capital gains. For capital\ngains

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

1) where assessee suffers loss in\nrespect of any source under any head of income other than capital gain,\nassessee is entitled to have the amount of such loss set of against his income\nfrom any other source under the same had. Therefore, these provisions speaks\nabout inter head adjustment other than the head of capital gains. For capital\ngains