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

11 019. Thus, it is clear that assessee has incurred short-term capital losses of Rs. 49,454,381/- (which is subject to securities transaction tax) and also earned short-term capital gain of Rs. 791,221/- (which is not subject to securities transaction tax and taxable as per section 115AD at the rate of 30%). Thus, assessee submits that

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

4 (Bom). 8. The ld. CIT(A) on considering the assessment order and the submission of assessee restricted the disallowance of section 14A to the extent of exempt income i.e. Rs. 2.17 crores on relying upon the decision of Delhi High Court ITA Nos. 890 1348/Mum/2023 & C.O. 71/Mum/2023 Reliance Power Ltd. in Cheminvest Ltd. vs CIT (2016) 61 taxmann.com

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.

4 Tata Communications Limited vs. Pr. CIT applicable to short term capital gains or rates applicable to long term capital gains under section 112 of the Act?” 9. While answering the question referred to, ld. Special Bench, as per the majority view, held as under: 16. We have heard both the parties and also perused the various judgments relied upon

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

11 of 1922), the provisions of sections 48 and 49 shall be subject to the\nfollowing modifications:\n(1) where the full value of the consideration received or accruing as a result of the\ntransfer of the asset together with the full value of such consideration received or\naccruing as a result of the transfer of any other capital asset

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

gains computed under section 50, arising on transfer of long term capital assets, at the rates mentioned in section 112 of the Act instead of charging them at the normal rates as has been done by the AO.” ITA No. 1022/Mum/2025 – Revenue “1. Whether on the facts in the circumstances of the case the Ld.CIT(A) was justified in allowing

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)

4. The case of the Assessee was selected for scrutiny and the Assessing Officer noted that the Assessee had adopted following hierarchy of setting off the short term capital loss with short term capital gains: (a) Short Term Capital Loss (STT paid) was first set off against the Short Term Capital Gains (Non-STT: taxable at the rate

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)

4. The case of the Assessee was selected for scrutiny and the Assessing Officer noted that the Assessee had adopted following hierarchy of setting off the short term capital loss with short term capital gains: (a) Short Term Capital Loss (STT paid) was first set off against the Short Term Capital Gains (Non-STT: taxable at the rate

ISHARES MSCI INDIA ETF(AS A SUCESSOR TO ISHARES INDIA INDEX MARUITIUS COMPANY),MUMBAI vs. DCIT (INT)-2(2)(2), MUMBAI

4) of the India-Mauritius DTAA.\nFurther, the AO is directed to allow the set off of long-term capital loss brought\nforward from the previous years against the net long-term capital gains\naccrued during the year from the non-grandfathered sale of shares.\nAccordingly, the impugned order on this issue is set aside, and grounds no.7-\n10 raised

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 losses\nadopted by the Appellant and thereby, taxing the gross short-term capital\ngains in respect of transactions on the sale of shares not chargeable to\nSecurities Transaction Tax ('STT\").\n3. failed to appreciate that income under the head 'Capital Gains' is determined\nas per sections 45 to 55A of the Act whilst sections 111A and 115AD only\nprovide

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 Gains' is determined\nas per sections 45 to 55A of the Act whilst sections 111A and 115AD only\nprovide for determination of tax in certain cases and therefore, gains arising\non transactions subjected to STT and those not subjected to STT are no\ndifferent and satisfy the 'similar computation' condition specified in section

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

4) of the India-Mauritius DTAA.\nFurther, the AO is directed to allow the set off of long-term capital loss brought\nforward from the previous years against the net long-term capital gains\naccrued during the year from the non-grandfathered sale of shares.\nAccordingly, the impugned order on this issue is set aside, and grounds no.7-\n10 raised

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

4) of the India-Mauritius DTAA.\nFurther, the AO is directed to allow the set off of long-term capital loss brought\nforward from the previous years against the net long-term capital gains\naccrued during the year from the non-grandfathered sale of shares.\nAccordingly, the impugned order on this issue is set aside, and grounds no.7-\n10 raised

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

4) of the India-Mauritius DTAA.\nFurther, the AO is directed to allow the set off of long-term capital loss brought\nforward from the previous years against the net long-term capital gains\naccrued during the year from the non-grandfathered sale of shares.\nAccordingly, the impugned order on this issue is set aside, and grounds no.7-\n10 raised

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

11\n12.\nThus, as per the provisions of section 70(2) of the Act, the short-term\ncapital loss can be set off against gain from any other capital asset. Section\n70(2) of the Act does not make any further classification between the\ntransactions where STT was paid and the transactions where STT was not\npaid. The emphasis

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

4) of the India-Mauritius DTAA.\nFurther, the AO is directed to allow the set off of long-term capital loss brought\nforward from the previous years against the net long-term capital gains\naccrued during the year from the non-grandfathered sale of shares.\nAccordingly, the impugned order on this issue is set aside, and grounds no.7-\n10 raised

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

4) of the India-Mauritius DTAA.\nFurther, the AO is directed to allow the set off of long-term capital loss brought\nforward from the previous years against the net long-term capital gains\naccrued during the year from the non-grandfathered sale of shares.\nAccordingly, the impugned order on this issue is set aside, and grounds no.7-\n10 raised

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

11\n12. Thus, as per the provisions of section 70(2) of the Act, the short-term\ncapital loss can be set off against gain from any other capital asset. Section\n70(2) of the Act does not make any further classification between the\ntransactions where STT was paid and the transactions where STT was not\npaid. The emphasis

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

4) of the India Mauritius DTAA. The Assessing Officer has disputed only ca Assessing Officer has disputed only carry forward of the short term rry forward of the short term capital losses. The Ld. counsel relied on the decision of the Co- capital losses. The Ld. counsel relied on the decision of the Co capital losses. The Ld. counsel relied