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

C-43, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 ……………… Respondent Assessee by : Shri Pranav Gandhi Revenue by : Shri Satya Pal Kumar, CIT-DR Shri Krishna Kumar, Sr.DR Date of Hearing – 10/12/2025 Date of Order – 02/01/2026 O R D E R PER BENCH The present appeals have been filed by separate assessees against the separate final assessment orders passed

ISHARES MSCI ALL COUNTRY ASIA EX JAPAN ETF,MUMBAI vs. DCIT (INT. TAX)-2(2)(2), MUMBAI

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

C-43, G-Block, Bandra Kurla Complex,\nBandra (East), Mumbai – 400051\nRespondent\nAssessee by : Shri Pranav Gandhi\nRevenue by : Shri Satya Pal Kumar, CIT-DR\nShri Krishna Kumar, Sr.DR\nDate of Hearing – 10/12/2025\nDate of Order – 02/01/2026\nORDER\nPER BENCH\nThe present appeals have been filed by separate assessees against the\nseparate final assessment orders passed under section

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.

13) of the Act. Post passing of final assessment order, ld. PCIT called for and examined the assessment records and while doing so, he found that in the year under consideration, the assessee has sold certain depreciable assets which has resulted in capital gain. He observed, as per section 50 of the Act, gain derived from sale of depreciable assets

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 ITA No.4656/Mum/2023 (Assessment Year 2021-2022), dated 13/12/2024 Assessment Year 2022-2023 on 12/03/2022 declaring total income at Rs.11,40,04,39,930/-. The assessee is a trust organized in U.S.A. and is registered with the Securities & Exchange Board of India (SEBI) as a Foreign Portfolio Investor. The entire quarrel revolves around the following short term capital gains/losses: STCG

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 ITA No.4656/Mum/2023 (Assessment Year 2021-2022), dated 13/12/2024 Assessment Year 2022-2023 on 12/03/2022 declaring total income at Rs.11,40,04,39,930/-. The assessee is a trust organized in U.S.A. and is registered with the Securities & Exchange Board of India (SEBI) as a Foreign Portfolio Investor. The entire quarrel revolves around the following short term capital gains/losses: STCG

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

C)\n4,51,55,529\nNet Short-Term Capital Gains chargeable to tax\n7,56,55,050\n4. Thus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm capital loss (on which STT was paid), which is taxable at 15% under\nsection 111A

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

C)\n4,51,55,529\nNet Short-Term Capital Gains chargeable to tax\n7,56,55,050\n4. Thus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm capital loss (on which STT was paid), which is taxable at 15% under\nsection 111A

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

C)\nNet Short-Term Capital Gains chargeable to tax\n4.\nAmounts (in INR)\n4,60,58,240\n(1,55,58,719)\n3,04,99,521\n4,51,55,529\n7,56,55,050\nThus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm

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

C)\nNet Short-Term Capital Gains chargeable to tax\nAmounts (in INR)\n4,60,58,240\n(1,55,58,719)\n3,04,99,521\n4,51,55,529\n7,56,55,050\n4. Thus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm

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

C)\n4,51,55,529\nNet Short-Term Capital Gains chargeable to tax\n7,56,55,050\n4.\nThus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm capital loss (on which STT was paid), which is taxable at 15% under\nsection 111A

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

C)\nNet Short-Term Capital Gains chargeable to tax\nAmounts (in INR)\n4,60,58,240\n(1,55,58,719)\n3,04,99,521\n4,51,55,529\n7,56,55,050\n4. Thus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm

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

C)\n4,51,55,529\nNet Short-Term Capital Gains chargeable to tax\n7,56,55,050\n4.\nThus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm capital loss (on which STT was paid), which is taxable at 15% under\nsection 111A

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

C)\n4,51,55,529\nNet Short-Term Capital Gains chargeable to tax\n7,56,55,050\n4. Thus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm capital loss (on which STT was paid), which is taxable at 15% under\nsection 111A

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

C)\n4,51,55,529\nNet Short-Term Capital Gains chargeable to tax\n7,56,55,050\n\n4. Thus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm capital loss (on which STT was paid), which is taxable at 15% under\nsection 111A

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

C)\n4,51,55,529\nNet Short-Term Capital Gains chargeable to tax\n7,56,55,050\n\n4. Thus, it was observed that as per the methodology adopted by the\nassessee for computation of the capital gains, the assessee set off the short-\nterm capital loss (on which STT was paid), which is taxable at 15% under\nsection 111A

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

SIR RATAN TATA TRUST,MUMBAI SUBURBAN vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-2(1), 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