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

capital gains amounting to Rs. 62,90,458 taxable at 30% under section 115AD of the Act. ITAs No.6050, 6051 & 6774/Mum/2025 (A.Y. 2022-23 & 2023-24) 8 10. The assessee filed detailed objections, inter alia, against the aforesaid addition made by the AO. Vide directions dated 25/06/2025, issued under section 144C(5

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.

144C(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

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)

5 is allowed.” (Emphasis Supplied) 13. On perusal of the above judicial precedents, it can be seen that it has been held that under Section 70 of the Act no chronology has been mentioned in respect of set off of losses. The provisions contained in the Act do not compel an assessee to first set off Short Term Capital Gain

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)

5 is allowed.” (Emphasis Supplied) 13. On perusal of the above judicial precedents, it can be seen that it has been held that under Section 70 of the Act no chronology has been mentioned in respect of set off of losses. The provisions contained in the Act do not compel an assessee to first set off Short Term Capital Gain

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.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7. The assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7.\nThe assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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

capital gains amounting to Rs.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n\n7. The assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7. The assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7. The assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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

capital gains amounting to Rs.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7.\nThe assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7. The assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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

capital gains amounting to Rs.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7.\nThe assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7. The assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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.4,60,58,240 taxable at\n30% under section 115AD of the Act.\n7. The assessee filed detailed objections, inter-alia, against the aforesaid\naddition made by the AO. Vide directions dated 05/12/2024, issued under\nsection 144C(5

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

144C(13) of the Act, is without jurisdiction and bad in law inasmuch as the same has been passed beyond the time limit inasmuch as the same has been passed beyond the time limit inasmuch as the same has been passed beyond the time limit prescribed in Section 153 of the Act. prescribed in Section

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

In the result appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

section 144C (5) of the act issued by the dispute resolution panel – 1, Mumbai (the learned DRP) on 12/9/2023 wherein the income of the assessee of ₹ 58,178,706 is assessed at ₹ 61,915,486/– . Fact shows that assessee has earned the income under the head 025. capital gains

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

In the result appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

section 144C (5) of the act issued by the dispute resolution panel – 1, Mumbai (the learned DRP) on 12/9/2023 wherein the income of the assessee of ₹ 58,178,706 is assessed at ₹ 61,915,486/– . Fact shows that assessee has earned the income under the head 025. capital gains

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

In the result appeal of the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

section 144C (5) of the act issued by the dispute resolution panel – 1, Mumbai (the learned DRP) on 12/9/2023 wherein the income of the assessee of ₹ 58,178,706 is assessed at ₹ 61,915,486/– . Fact shows that assessee has earned the income under the head 025. capital gains