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

section 90(2) of the Act, each provision of\nthe Act should be considered separately and therefore for determining total\nincome', the income under head "Capital gains has to be first determined\nconsidering the provisions of the Act or the treaty, whichever is more beneficial\nand once it is determined that the grandfathered gains are not chargeable to\ntax

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

section 90(2) of the Act, each provision of\nthe Act should be considered separately and therefore for determining total\nincome', the income under head "Capital gains has to be first determined\nconsidering the provisions of the Act or the treaty, whichever is more beneficial\nand once it is determined that the grandfathered gains are not chargeable to\ntax

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

section 270A of the Act, which is premature in\nnature. Therefore, the said ground is dismissed.\n67. In the result, the appeal by the assessee is partly allowed for statistical\npurposes.\n42\nITAs No. 2085, 2134, 2147, 2148, 2149, 2150, 2151, 2152, 2153, 2154/Mum/2025 43\nITA No. 2150/Mum/2025\nIShare MSCI Emerging Markets ETF – A.Y. 2022-23\n68. In this appeal

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

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

Capital losses adopted\nby the Appellant\n\n2. erred in rejecting the hierarchy of set-off of short-term 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

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 losses adopted\nby the Appellant\n2. erred in rejecting the hierarchy of set-off of short-term 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

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

section 234B of the Act, which is consequential\nin nature. Therefore, the same needs no separate adjudication.\n66.\nGround no.15, raised in assessee's appeal, pertains to the initiation of\npenalty proceedings under section 270A of the Act, which is premature in\nnature. Therefore, the said ground is dismissed.\n43\nITAs

ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

section 45(2) of the Act. The second issue is regarding issue is regarding computation of quantum of long computation of quantum of long-term capital gain, which has been term capital gain, which has been agitated by the assessee in ground no. 1 of its appeal. ated by the assessee in ground no. 1 of its appeal. While ated

THE BOMBAY DYEING & MANUFACTURING COMPANY LTD.,,MUMBAI vs. DCIT, C--2(1), MUMBAI, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

section 45(2) of the Act. The second issue is regarding issue is regarding computation of quantum of long computation of quantum of long-term capital gain, which has been term capital gain, which has been agitated by the assessee in ground no. 1 of its appeal. ated by the assessee in ground no. 1 of its appeal. While ated

THE BOMBAY DYEING & MANUFACTURING COMPANY LTD.,,MUMBAI vs. DCIT, C--2(1), MUMBAI, MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

section 45(2) of the Act. The second issue is regarding issue is regarding computation of quantum of long computation of quantum of long-term capital gain, which has been term capital gain, which has been agitated by the assessee in ground no. 1 of its appeal. ated by the assessee in ground no. 1 of its appeal. While ated

ACIT CIRCLE-2(1)(1), MUMBAI vs. M/S BOMBAY DYEING & MANUFACTURING CO. LTD. , MUMBAI

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () - A.Y 2014-15 - A.Y 2015-16 Asst. Commissioner Of M/S Bombay Dyeing & Income-Tax 2(1)(1), Mumbai, Manufacturing Co. Ltd Room No.561, 5Th Floor, Vs. Neville House, Jn Herdia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-400 020 Mumbai-400 001 Pan No. Aaact 2328 K Appellant Respondent - A.Y 2014-15 - A.Y 2015-16 M/S Bombay Dyeing & Dy. Commissioner Of Income- Manufacturing Co. Ltd Tax 2(1), Mumbai, Room Neville House, Jn Herdia No.561, 5Th Floor, Aayakar Vs Marg, Ballard Estate, Bhavan, M.K. Road, Mumbai- Mumbai-400 001 400 020 Pan No. Aaact 2328 K Appellant Respondent

section 45(2) of the Act. The second issue is regarding issue is regarding computation of quantum of long computation of quantum of long-term capital gain, which has been term capital gain, which has been agitated by the assessee in ground no. 1 of its appeal. ated by the assessee in ground no. 1 of its appeal. While ated

SUKHPAL SINGH AHLUWALIA,MUMBAI vs. ITO (INTERNATIONAL TAXATION) WARD 1(1)(1), MUMBAI

In the result, appeal of assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Raj Kumar Chauhan, Jm Income Tax Officer Sukhpal Singh Ahluwalia (International Tax) Ward 6/24, Milan Building, 1(1)(1), 87, Tardeo Road, Room No.1817A, 18 Th Vs. Opp. Tardeo A C Market, Floor, Air India Building, Mumbai-400 034 Nariman Point, Mumbai-400 021 (Appellant) (Respondent) Pan No. Azupa6884D Assessee By : Shri Rashmikant C. Modi & Ms. Ketki Rajeshirke, Ars Revenue By : Shri Soumendu Kumar Sash, Dr Date Of Hearing: 18.04.2024 27.05.2024 Date Of Pronouncement :

149 taxmann.com 436 (Mumbai - Trib.)[15- 03-2023] does not apply to the assessee as that decision was on the issue that whether Section 112(1)(c)(iii) is a special provision for computation of capital gains

TATA SONS LTD,MUMBAI vs. CIT 2, MUMBAI

In the result, appeal of the assessee is allowed

section 48 is inapplicable and\nit is not possible to compute profits or gains arising from the\ntransfer of the capital asset. This precise issue and law has been\nwell settled way back by the decision of the Hon'ble Supreme\nCourt in the case of B.C. Srinivasa Shetty (supra).\n25. He further submitted that on this very issue, there

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(4), MUMBAI vs. SHRI NARENDRA GEHLAUT, MUMBAI

In the result, the appeal filed by the Revenue is partly allowed e appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2017-18 The Dy. Cit, Central Circle-6(4), Shri Narendra Gehlaut, Room No. 1925, 19Th Floor, Air 875, Sector – 17B, Gurgaon, India Building, Nariman Point, Vs. Haryana, 122 001. Mumbai-400021. Pan No. Aazpg 9630 K Appellant Respondent

capit that the interest paid to bank for acquiring capital asset would al asset would be eligible as part of cost of acquisition. be eligible as part of cost of acquisition.” Shri Narendra Gehlaut 26 ITA No. 1101/Mum/2022 6.2 On the contrary, the Ld. DR submitted that interest is On the contrary, the Ld. DR submitted that interest

ISC SPECIALITY CHEMICALS LLP ,MUMBAI vs. ITO WARD 19(1)(5), MUMBAI

In the result the appeal filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

capital gains, the machinery provision becomes unworkable. After, considering various submissions of the assessee the Ld.CIT(A) observed and held as under. 4. I have examined the assessment order, the submissions made by the appellant and the judicial decisions relied upon by the parties. All grounds of appeal have been discussed together. 4.1 I am in agreement with the view

SHRI RAJESH RAMCHANDRA DAKE,PANVEL vs. DY CIT CC-1, MUMBAI

capital gain and other sources, ultimately vide assessment order dated March 31, 2016 under Section 143(3) read with Section 153A of the Act, made various additions including the addition of Rs.6,81,11,103/- on account of brokerage income and added the same to the total income of the Assessee by concluding as under:\n\n\"08. Brokerage

UDAYAN GROVER,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE(NFAC), DELHI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleudayan Grover V. National Faceless Appeal Centre Panch Mahal Delhi Panch Sristhi Complex {Acit – 26(3), Bkc, Mumbai} Powai, Mumbai - 400072 Pan: Aclpg0572G (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punmiya Department Represented By : Ms. Kavitha Kaushik

capital gain as unexplained cash credit, Rs. 1,25,00,000/- made on account of treating unsecured loans as unexplained cash credit and Rs. 62,81,000/- disallowed under section 57 totally amounting to Rs. 6,46,91,500/- may kindly be deleted and the income declared by the assessee may be accepted.” 10. After considering detailed submissions