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

1,12,27,50,838, claimed as not chargeable to tax under Article 13 of the India Mauritius (IM Treaty). 3. erred in holding that long term capital gains not chargeable to tax under the IM Treaty form part of the 'total income' of the Appellant as per section

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

13. We also find that assessee has also challenged the action of ld. CIT(A) in restricting the disallowance under section 14A with a specific request that only investment which yielded exempt income should be considered for the ITA Nos. 890 1348/Mum/2023 & C.O. 71/Mum/2023 Reliance Power Ltd. purpose of disallowance under Rule 8D(iii). Thus, considering the decision of Delhi

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) and sub section (2) of section 50 has limited application only in the context of mode of computation of capital gains contention of sections 48 and 49 of the Act and beyond that nothing should be imported to other sections of the Act. 33. Though most of the decisions have been rendered in the context of Section

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

13. The assessee while filing the return of income has offered income to the tune of Rs. 36,35,98,346/- to tax the gain arising out of the sale of assets forming part of block of assets to be taxed at normal rate of tax. The contention of the assessee before us is that the gain on transfer

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)

1,77,58,894 Accordingly, the Assessing Officer passed the Final Assessment Order, dated 29/01/2025, holding that STCG of INR.1,04,65,506/- was taxable at the rate of 15% under Section 115AD read with Section 111A of the Act and the balance amount of INR.1,77,58,894/- was taxable at the rate of 30% as per Section 115AD

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)

1,77,58,894 Accordingly, the Assessing Officer passed the Final Assessment Order, dated 29/01/2025, holding that STCG of INR.1,04,65,506/- was taxable at the rate of 15% under Section 115AD read with Section 111A of the Act and the balance amount of INR.1,77,58,894/- was taxable at the rate of 30% as per Section 115AD

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 gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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 gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

capital gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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 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 amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

capital gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

capital gains amounting to Rs.\n\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

capital gains amounting to Rs.\n\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

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 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 gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

1) of the Act, brought forward losses under the head ‘capital gain’ have to ght forward losses under the head ‘capital gain’ have to ght forward losses under the head ‘capital gain’ have to be set off against the income if any, under the head ‘capital gains’ be set off against the income if any, under the head ‘capital gains

SIR RATAN TATA TRUST,MUMBAI SUBURBAN vs. ADDITIONAL /JOINT/DEPUTY/ASSISTANT COMMISSIONER OF INCOME TAX, NFAC, MUMBAI

In the result, both the appeals of the assessee in both AY 2014-15 and AY

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

gains of business, the provisions of clause (iii) of this proviso shall not apply unless the trust or institution maintains separate books of account in respect of such business. (emphasis supplied) 9. The contention of the revenue is that funds of the assessee Trust that were invested before 01.03.1983 in Tata Sons Ltd which is not a modes specified