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

sections": [ "143(3)", "144C(13)", "144C(5)", "70(2)", "45", "55A", "111A", "115AD", "74", "2(24)", "4", "5", "90(2)", "13(4)", "234B", "270A", "234C" ], "issues": "Whether short-term capital losses can be set off against short-term capital gains

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

capital gains, which is exempt from tax in India as per Article 13(4) of the India-Mauritius DTAA, the Revenue has restricted the benefit granted to the assessee under Article 13(4) of the India-Mauritius DTAA read with section 90(2

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

2(42A) of the Act. Thus, profit arising on sale of such asset was long term capital gain. The assessee reiterated that fiction created by section 50 regarding depreciable asset cannot change long term asset into a short term asset. To support their contention relied on decision of Supreme Court in CIT Vs V.S. Dempo Co. Ltd. (2016) 74 taxmann.com

RAMESH JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

2) 37.63 - (1)] 4 Number of shares sold 20,71,963 5 Aggregate capital gains before expenses 7,79,97,968 6 Selling expenses 4,85,13,156 7 Capital gain chargeable 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.

2(11) of the Act. Section 50 has two components, one is as to the nature of treatment of an asset, the profit on sale of which has to be assessed to capital gains. The section mandates that a depreciable asset in respect of which depreciation has been allowed when sold should be assessed to tax as short-term capital

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)

2,82,24,400 [Offered to tax as STCG subject to STT and taxable as per section 115AD read with section 111A of the Act at the rate of 15%] 24. However, the Assessing Officer and DRP did not accept the Assessment Year 2022-2023 Assessee’s treatment and recomputed the assessable capital gains as under: Short-term capital gains

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)

2,82,24,400 [Offered to tax as STCG subject to STT and taxable as per section 115AD read with section 111A of the Act at the rate of 15%] 24. However, the Assessing Officer and DRP did not accept the Assessment Year 2022-2023 Assessee’s treatment and recomputed the assessable capital gains as under: Short-term capital gains

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

capital gains,\nwhich is exempt from tax in India as per Article 13(4) of the India-Mauritius\nDTAA, the Revenue has restricted the benefit granted to the assessee under\nArticle 13(4) of the India-Mauritius DTAA read with section 90(2

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,\nwhich is exempt from tax in India as per Article 13(4) of the India-Mauritius\nDTAA, the Revenue has restricted the benefit granted to the assessee under\nArticle 13(4) of the India-Mauritius DTAA read with section 90(2

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

13\n021. Therefore, we do not find any reason to deprive the assessee from set-\noff of short-term capital losses suffered by the assessee for the same year\nagainst the short-term capital gains earned by the assessee. Such claim is in\naccordance with the provisions of section 70 (2

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

capital gains,\nwhich is exempt from tax in India as per Article 13(4) of the India-Mauritius\nDTAA, the Revenue has restricted the benefit granted to the assessee under\nArticle 13(4) of the India-Mauritius DTAA read with section 90(2

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

capital gains,\nwhich is exempt from tax in India as per Article 13(4) of the India-Mauritius\nDTAA, the Revenue has restricted the benefit granted to the assessee under\nArticle 13(4) of the India-Mauritius DTAA read with section 90(2

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,\nwhich is exempt from tax in India as per Article 13(4) of the India-Mauritius\nDTAA, the Revenue has restricted the benefit granted to the assessee under\nArticle 13(4) of the India-Mauritius DTAA read with section 90(2

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,\nwhich is exempt from tax in India as per Article 13(4) of the India-Mauritius\nDTAA, the Revenue has restricted the benefit granted to the assessee under\nArticle 13(4) of the India-Mauritius DTAA read with section 90(2

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,\nwhich is exempt from tax in India as per Article 13(4) of the India-Mauritius\nDTAA, the Revenue has restricted the benefit granted to the assessee under\nArticle 13(4) of the India-Mauritius DTAA read with section 90(2

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

13\n021. Therefore, we do not find any reason to deprive the assessee from set-\noff of short-term capital losses suffered by the assessee for the same year\nagainst the short-term capital gains earned by the assessee. Such claim is in\naccordance with the provisions of section 70 (2

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,\nwhich is exempt from tax in India as per Article 13(4) of the India-Mauritius\nDTAA, the Revenue has restricted the benefit granted to the assessee under\nArticle 13(4) of the India-Mauritius DTAA read with section 90(2

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

section 90(2) of the Act allows the assessee to apply the provisions of the 90(2) of the Act allows the assessee to apply the provisions of the 90(2) of the Act allows the assessee to apply the provisions of the Act to the extent more beneficial to the assessee. The Ld. Authorized Act to the extent more