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

13 of the India Mauritius (IM Treaty). 8. 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 2(24) of the Act read with section 4 and 5 of the Act. 9. erred in holding that mode of computation of capital

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

13) of the Act computing the net short-term capital gains\namounting to Rs. 950,33,72,269 taxable at 15% under section 111A of the\nAct after allowing setting off of brought forward short-term capital loss taxable\nat 15% amounting to Rs. 796,57,16,860 and the net short-term capital gains\namounting

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 gain. The assessee has also filed its CO by raising grounds of objection that AO be directed to consider only those investments which have actually yielded exempt during the year and excluding those investments which have not yielded any income during the year while working out the average value of the investment. 10. We have heard the submission

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 ()

gains on for in the accounts on account of appreciation of or gains on for in the accounts on account of appreciation of or gains on the realization of investments shall be the realization of investments shall be treated as part of the treated as part of the profits and gains: profits and gains: Provided that the Assessing Officer

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 ()

gains on for in the accounts on account of appreciation of or gains on for in the accounts on account of appreciation of or gains on the realization of investments shall be the realization of investments shall be treated as part of the treated as part of the profits and gains: profits and gains: Provided that the Assessing Officer

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 ()

gains on for in the accounts on account of appreciation of or gains on for in the accounts on account of appreciation of or gains on the realization of investments shall be the realization of investments shall be treated as part of the treated as part of the profits and gains: profits and gains: Provided that the Assessing Officer

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 ()

gains on for in the accounts on account of appreciation of or gains on for in the accounts on account of appreciation of or gains on the realization of investments shall be the realization of investments shall be treated as part of the treated as part of the profits and gains: profits and gains: Provided that the Assessing Officer

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 Tata Communications Limited vs. Pr. CIT 49 of the Act. Here again section 50 provides an exception for deduction of cost of acquisition and other items of expenditure otherwise allowable in the computation of capital gains under sections 48 and 49 of the Act. In other words, section 50 provides for assessment of a depreciable asset in respect

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

13,07,75,542 5,30,85,161 1,40,000 18,40,00,703 10. Subsequently the assessee recovered the said amount by selling the flats for a consideration of Rs. 21 cr. to its sister concern M/s Jivesh Developers & Properties Pvt. Ltd. and in the books of account reflected a sum of Rs. 2,59,99,297/- (Rs.21

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 70. I find that there is no prohibition nor the Act compels the assessee to first set off short term capital gain with STT against short term capital loss with STT and then allows set off against short term capital gain without STT, In absence of any specific mode of set off provided in the Act and in absence

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 70. I find that there is no prohibition nor the Act compels the assessee to first set off short term capital gain with STT against short term capital loss with STT and then allows set off against short term capital gain without STT, In absence of any specific mode of set off provided in the Act and in absence

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

13) of the Act computing 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 of the Act. Being aggrieved, the assessee is in\nappeal before us.\n9. During

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

10\n8.\nIn conformity with the directions issued by the learned DRP, the AO\npassed the impugned final assessment order under section 143(3) read with\nsection 144C(13) of the Act computing the net short-term capital gains

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

13) of the Act computing 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 of the Act. Being aggrieved, the assessee is in\nappeal before us.\n\n9. During

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

13) of the Act computing 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 of the Act. Being aggrieved, the assessee is in\nappeal before us.\n9. During

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

13) of the Act computing 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 of the Act. Being aggrieved, the assessee is in\nappeal before us.\n9. During

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

13) of the Act computing 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 of the Act. Being aggrieved, the assessee is in\nappeal before us.\n9. During

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

13) of the Act computing 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 of the Act. Being aggrieved, the assessee is in\nappeal before us.\n9. During

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

10\n8. In conformity with the directions issued by the learned DRP, the AO\npassed the impugned final assessment order under section 143(3) read with\nsection 144C(13) of the Act computing the net short-term capital gains