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

200/– which is chargeable to tax at the rate of 5%. ITA No. 4564, 567 to 4570/Mum/2023 iShares MSCI EM VCITS ETF USD Acc; A.Y. 2021-22 05. In the return of income assessee has earned term capital gain of ₹ 317,63,535/– after set-off of the short-term capital loss assessee has offered capital loss

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

200/– which is chargeable to tax at the rate of 5%. ITA No. 4564, 567 to 4570/Mum/2023 iShares MSCI EM VCITS ETF USD Acc; A.Y. 2021-22 05. In the return of income assessee has earned term capital gain of ₹ 317,63,535/– after set-off of the short-term capital loss assessee has offered capital loss

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

200/– which is chargeable to tax at the rate of 5%. ITA No. 4564, 567 to 4570/Mum/2023 iShares MSCI EM VCITS ETF USD Acc; A.Y. 2021-22 05. In the return of income assessee has earned term capital gain of ₹ 317,63,535/– after set-off of the short-term capital loss assessee has offered capital loss

TMF HOLDING LTD.,MUMBAI vs. PR. CIT -1, MUMBAI

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Bletmf Holdings Ltd., V. Pr.Cit – 1 {Formerly Known As Tata Motors Finance Ltd.,} 3Rd Floor, Room No. 330 10Th Floor, 106 A & B Aayakar Bhavan, M.K. Road Maker Chamber-Iii Mumbai - 400020 Nariman Point, Mumbai Pan: Aacct4644A (Appellant) (Respondent) Shri Nikhil Tiwari Assessee By : Department By : Shri S.N. Kabra

capital gains tax, and hence no disallowance under section 14A is warranted; 18. without prejudice to the above, erred in directing Assessing Officer to make disallowance of expenditure under section 14A of the Act without appreciating that the appellant had sufficient interest free own funds and hence no interest can be disallowed under section 14A of the Act; The Appellant

M/S WF ASIAN SMALLER COMPANIES FUND LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION CIRCLE 4(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.459/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14) M/S. Wf Asian Smaller बिधम/ Acit, Circle-4(3)(2) Companies Fund Ltd Room No. 1611, 16Th Vs. C/O Ankul Goyal, Azb & Floor, Air India Building, Partners A8, Sector-4, Nariman Point, Mumbai- Noida 201301. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacw5648R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Deepak Chopra/Ankul Goyal Revenue By: Shri Soumedu Kumar Dash (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 28/03/2023 घोषणा की तारीख /Date Of Pronouncement: 23/06/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Passed By The Ao Dated 19.01.2023 U/S 147 R.W.S 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”) Pursuant To The Direction Issued By The Ld. Dispute Resolution Panel (Drp) For Ay. 2013-14. 2. The Assessee Has Raised The Legal Issue Challenging The Action Of The Ao To Have Reopened The Original-Scrutiny-Assessment U/S 143(3) Of The Act, After Four (4) Years [From The End Of The Relevant Assessment Year] Without Satisfying The Additional Condition Precedent As Prescribed In The Proviso To Section 147(1) Of The Act. Since The Assessee Has Raised The Legal Issue Assailing The Jurisdiction Of Ao To Have Issued Notice U/S 148 Of The Act, Proposing Re-Opening Of The Original Assessment [Framed Under Scrutiny Under Section 143(3) Of The Act], We Will Adjudicate It First. For Appreciating The Legal Issue, Let Us

200 (Delhi)(FB) had drawn distinction between cases where re- opening is done within four years of the end of the assessment year and cases where re-opening is post four years of the end of the assessment year. This distinction was drawn, as earlier Full Bench of this High Court in CIT v. Kelvinator of India

TATA SONS LTD,MUMBAI vs. CIT 2, MUMBAI

In the result, appeal of the assessee is allowed

section 48.\n3. Profits or gains must arise from the transfer and must be\nembedded in the consideration.\nSince the point raised in the first argument is not material\nregarding the issue involved before us, therefore, it would suffice\nto point out that the Hon'ble court held that such contribution of\nthe capital by way of transfer of personal

SMT.MANJU MAHENDRA GOYAL,MUMBAI vs. INCOME TAX OFFICER 19(2)(3), MUMBAI

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh, Assessment Year: 2012-13 Smt. Manju Mahendra Goyal Income Tax Officer-19(2)(3), A/802, Surya Apartments, Room No.2018, Matru बनाम/ 53, Bhulabhai Desai Road, Mandir, Tardeo Road, Vs. Mumbai-400026 Mumbai-400007 "नधा"रती / Assessee राज"व / Revenue P.A. No.Aafpg2990N

200 (Delhi) had the occasion to, consider what amounted to acquisition of a capital asset - though in the context of a claim that capital gains had accrued due to the sale of the property. The Court was of the opinion that 'capital asset' has been defined in extremely wide terms. A reference to section

NETESOFT INDIA LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX -10(3)(1), MUMBAI

The appeal is dismissed for non-prosecution

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.5359/Mum/2017 (िनधा"रण वष" / Assessment Year:2013-14) Netesoft India Limited Dcit-Central Circle-10(3)(1) 602, Maker Bhavan-Iii बनाम/ Room No.212, Aaykar Bhavan New Marin Lines Vs. Mumbai-400 020. Mumbai-400 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacn-9543-J (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Yogesh Thar-Ld. Ar ""थ"कीओरसे/Respondent By : Ms. Samatha Mullamudi-Ld.Sr.Dr सुनवाईकीतारीख/ : 30/09/2019 Date Of Hearing घोषणाकीतारीख / : 20/12/2019 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (): - 1. Aforesaid Appeal By Assessee For Assessment Year [Ay] 2013-14 Contest The Order Of Ld. Commissioner Of Income-Tax (Appeals)-17, Mumbai, [In Short Referred To As ‘Cit(A)’], Appeal No. Cit(A)-17/It-480/15- 16 Dated 02/05/2017 On Following Sole Ground Of Appeal: -

section 10(38) of the Act. Suppose in the case 8 Netesoft India Ltd. Assessment Year-2013-14 on hand if there is taxable long-term capital gain before 1-10-2004 of Rs. 33,01,57,200

ITO 16(1)(4), MUMBAI vs. SHASHANKA GHOSH, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2011-12 Income Tax Officer-16(1)(4), Vs Shri Shashanka Ghosh, Room No.438, 4Th Floor, C-701, Jay Bharat Chs Ltd. Aayakar Bhavan, Off. Yari Road,Near Amarnath M. K. Road, Tower, Varsova Andher (West), Mumbai-400020 Mumbai-400061 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Acwpg5915E

200 (Delhi) had the occasion to, consider what amounted to acquisition of a capital asset - though in the context of a claim that capital gains had accrued due to the sale of the property. The Court was of the opinion that 'capital asset' has been defined in extremely wide terms. A reference to section

TEACHER RETIREMENT SYSTEM OF TEXAS,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-4(1)(2), MUMBAI

In the result, the appeal by the assessee is partly allowed

Bench: Shri Sandeep Singh Karhailshri Girish Agrawalteacher Retirement System Of Texas, C/O Ernst & Young Llp, 17Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), ............... Appellant Mumbai - 400028 Pan: Aaatt9387R V/S Acit (It) – 4(1)(2), Kautilya Bhavan, ……………… Respondent G-Block, Bandra Kurla Complex, Mumbai - 400051 Assessee By : Shri Anish Thacker Shri Pranay Gandhi Revenue By : Shri Soumendu K. Dash, Sr.Dr

sections. Thus, the assessee’s manner of setting off its short-term capital loss, taxable at 15%, first against the short-term capital gains, taxable at 30%, and the balance set off against the short-term capital gains taxable at 15% was disallowed. Accordingly, the short-term capital gain was computed by first setting off 15% loss against 15% gains

JT. CIT (OSD) CENTRAL CIRCLE 5(1), MUMBAI vs. M/S ASPEN INTERNATIONAL PVT LTD., MUMBAI

In the result, appeals of the Revenue are allowed for statistical purposes and Cross Objections of the assessee are dismissed

200 20,38,249 18,51,049 989% Ltd. 4,62,800 17,58,553 12,95,753 280% Total 42,65,212 4,69,58,072 4,26,92,857 1001% 9. The ld. CIT (A) held that, in his order in the case of M/s. Hazel Mercantile Ltd and Shri Nitin Kumar Dindayal Didwania for A.Y.2010-11

JT. CIT (OSD) CENTRAL CIRCLE 5(1), MUMBAI vs. M/S ASPEN INTERNATIONAL PVT LTD, MUMBAI

In the result, appeals of the Revenue are allowed for statistical purposes and Cross Objections of the assessee are dismissed

200 20,38,249 18,51,049 989% Ltd. 4,62,800 17,58,553 12,95,753 280% Total 42,65,212 4,69,58,072 4,26,92,857 1001% 9. The ld. CIT (A) held that, in his order in the case of M/s. Hazel Mercantile Ltd and Shri Nitin Kumar Dindayal Didwania for A.Y.2010-11

JT. CIT (OSD) CENTRAL CIRCLE 5(1), MUMBAI vs. M/S ASPEN INTERNATIONAL PVT LTD, MUMBAI

In the result, appeals of the Revenue are allowed for statistical purposes and Cross Objections of the assessee are dismissed

200 20,38,249 18,51,049 989% Ltd. 4,62,800 17,58,553 12,95,753 280% Total 42,65,212 4,69,58,072 4,26,92,857 1001% 9. The ld. CIT (A) held that, in his order in the case of M/s. Hazel Mercantile Ltd and Shri Nitin Kumar Dindayal Didwania for A.Y.2010-11

JT. CIT(OSD)CENTRAL CIRCLE-5(1), MUMBAI vs. M/S ASPEN INTERNATIONAL PVT. LTD, MUMBAI

In the result, appeals of the Revenue are allowed for statistical purposes and Cross Objections of the assessee are dismissed

200 20,38,249 18,51,049 989% Ltd. 4,62,800 17,58,553 12,95,753 280% Total 42,65,212 4,69,58,072 4,26,92,857 1001% 9. The ld. CIT (A) held that, in his order in the case of M/s. Hazel Mercantile Ltd and Shri Nitin Kumar Dindayal Didwania for A.Y.2010-11

JT. CIT(OSD)CENTRAL CIRCLE-5(1), MUMBAI vs. M/S ASPEN INTERNATIONAL PVT. LTD , MUMBAI

In the result, appeals of the Revenue are allowed for statistical purposes and Cross Objections of the assessee are dismissed

200 20,38,249 18,51,049 989% Ltd. 4,62,800 17,58,553 12,95,753 280% Total 42,65,212 4,69,58,072 4,26,92,857 1001% 9. The ld. CIT (A) held that, in his order in the case of M/s. Hazel Mercantile Ltd and Shri Nitin Kumar Dindayal Didwania for A.Y.2010-11

FAROOQ ABDULLA MERCHANT,MUMBAI vs. ITO 23 (1)(4), MUMBAI

In the result, Ground No. V raised by the assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Blefarooq Abdulla Merchant V. Income Tax Officer- Ward – 23(1)(4) Matru Mandir, Tardev Road A-1401, Poseidon Tower Mumbai – 400 007 Versova, Yari Road Above Indian Bank, Versova Andheri (W), Mumbai - 400061 Pan: Ahupm7426K (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punamiya Department Represented By : Smt. Vranda U. Matkarni

Capital Gains- Computation of Section 48 of the Income-tax Assessee sold Paper book Page No. Act, Abrar Alvi (Copy of Order 200

ITO 41(3)(1), MUMBAI, MUMBAI vs. DEEPIKA ANIL AGARWAL, MUMBAI

In the result the appeal filed by the revenue stands\ndismissed

section 147, of the\nIncome-tax Act, 1961 Capital gains - Income\narising from transfer of long-term securities\n(Bogus transactions) Assessment year 2006-\n07 Assesse purchased 3000 shares of\ncompany 'T' through a stock broker These\nshares were transferred to assesses demat\naccount - However, said stock broker submitted\nbefore authorities that he was providing\naccommodation entries for taking profit

RAJENDRA KUMAR MUNDRA (HUF),MUMBAI vs. NATIONAL FACELESS ASSESSMENT CENTRE (NFAC), DELHI

In the result the appeal filed by the assessee stands allowed

Bench: Hon’Ble Shri Sandeep Gosain& Shri Girish Agrawalrajendra Kumar Mundra Vs. Ito, Ward 24(3)(1) (Huf) Piramal Chamber C-28, Ameya Bldg, Behind Lalbaug, Mumbai – Ymca Dn Nagar Andheri (W) 400012. 400053. Pan/Gir No.Aadh6828J (Applicant) (Respondent)

section 147, of 260 (Ahmedabad - Trib.) the Income-tax Act, 1961 - Capital gains IN THE ITAT - Income arising from transfer of long- AHMEDABAD BENCH 'B' term securities (Bogus transactions) - Pratik Suryakant Shah v. AY 2006-07 - Assesse purchased 3000 Income-tax Officer, Ward- shares of company 'T' through a stock 10 (3), Ahmedabad* broker - These shares were transferred OCTOBER