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

234B of the Act amounting to Rs. 3,68,24,02,310 Ground of Appeal No. 12: Initiation of penal proceedings under section 270A of the Act 12. erred in initiating penalty under section 270A of the Act alleging underreporting of income by the Appellant.” 40. Ground no.1 is general in nature. Therefore, the same needs no specific adjudication

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)

capital gain. 7. Erred in granting credit for taxes deducted at source only to the extent of INR 10,09,36,049 as against INR 106,223,167 as claimed by the Appellant in the return of income. 8. Erred in levying interest under section 234B

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)

capital gain. 7. Erred in granting credit for taxes deducted at source only to the extent of INR 10,09,36,049 as against INR 106,223,167 as claimed by the Appellant in the return of income. 8. Erred in levying interest under section 234B

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

234B of the Act amounting to Rs.\n49,638,028;\nLevy of interest under section 234C of the Act - Rs.3,57,020\n15. erred in levying interest under Section 234C of the Act amounting to Rs.\n357,020;\nInitiation of penal proceedings under section 270A of the Act\n16. Erred in initiating penalty under section 270A of the Act alleging

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

234B of the Act amounting to Rs.\n49,638,028;\nLevy of interest under section 234C of the Act - Rs.3,57,020\n15. erred in levying interest under Section 234C of the Act amounting to Rs.\n357,020;\nInitiation of penal proceedings under section 270A of the Act\n16. Erred in initiating penalty under section 270A of the Act alleging

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 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

234B of the Act amounting to Rs.\n49,638,028;\nLevy of interest under section 234C of the Act - Rs.3,57,020\n15. erred in levying interest under Section 234C of the Act amounting to Rs.\n357,020;\nInitiation of penal proceedings under section 270A of the Act\n16. Erred in initiating penalty under section 270A of the Act alleging

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

234B of the Act amounting to Rs.\n49,638,028;\nLevy of interest under section 234C of the Act - Rs.3,57,020\n15. erred in levying interest under Section 234C of the Act amounting to Rs.\n357,020;\nInitiation of penal proceedings under section 270A of the Act\n16. Erred in initiating penalty under section 270A of the Act alleging

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

ADITYA BIRLA TELECOM LIMITED,MUMBAI vs. DY. COMM OF INCOME TAX 10(1), MUMBAI

In the result appeal of the assessee is allowed in part in terms indicated hereinabove

capital gains tax can be levied on such transfer under Section 50B of the Act; Ground no. 6 - Amortization of telecom license fees under Section 35ABB(2) of the Act 17. erred in disallowing the amortization of telecom license fees of Rs 9,47,36,842 claimed by the Appellant under Section 35ABB(2) of the Act; Ground

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

capital gains u/s 54 of the Act, as he has complied with the conditions prescribed in that section. Accordingly, we set aside the order passed by Ld CIT(A) and direct the AO to allow the deduction u/s 54 of the Act as claimed by the assessee.” Thus, following the aforesaid decision, we find merit in the claim

FIDELITY RUTLAND SQUARE TRUST II STRATEGIC ADVISERS FID EMG MARKETS FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )2(3)(1), MUMBAI

234B and section\n234C of the Act amounting to INR 26,946,836 and\nINR.583,049 respectively.\n\nInitiating penalty proceedings under section 270A of the\nAct.\n\n9.\nErred in initiating penalty under section 270A of the Act\nalleging under reporting of income by the Appellant.”\n\n34.\nThe relevant facts in brief are that the Assessee, a trust

FIDELITY RUTLAND SQUARE TRUST II STRATEGIC ADVISERS EMERGING MARKETS FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION), MUMBAI

The appeals are partly allowed

234B and section\n234C of the Act amounting to INR 26,946,836 and\nINR.583,049 respectively.\nInitiating penalty proceedings under section 270A of the\nAct.\n9. Erred in initiating penalty under section 270A of the Act\nalleging under reporting of income by the Appellant.”\n35. The relevant facts in brief are that the Assessee, a trust\norganized

EMERGING MARKETS INDEX NON-LENDABLE FUND ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(2)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for\nstatistical purposes

234B of the Act amounting\nto Rs.139,391,602.\nLevy of interest under section 234C of the Act - Rs.146,705\n15. erred in levying interest under Section 234C of the Act amounting\nto Rs.146,705.\nLevy of interest under section 234D of the Act-Rs.10,020\n16. erred in levying interest under Section 234D of the Act amounting

EMERGING MARKETS EQUITY INDEX MASTER FUND ,MUMBAI vs. DEPUTY CIT (INT. TAX)-2(2)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for\nstatistical purposes

234B of the Act amounting\nto Rs.139,391,602.\nLevy of interest under section 234C of the Act - Rs.146,705\n15. erred in levying interest under Section 234C of the Act amounting\nto Rs.146,705.\nLevy of interest under section 234D of the Act-Rs.10,020\n16. erred in levying interest under Section 234D of the Act amounting

I SHARES ESG AWARE MSCI EM ETF ,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\nstatistical purposes

234B of the Act amounting\nto Rs.139,391,602.\nLevy of interest under section 234C of the Act - Rs.146,705\n15. erred in levying interest under Section 234C of the Act amounting\nto Rs.146,705.\nLevy of interest under section 234D of the Act-Rs.10,020\n16. erred in levying interest under Section 234D of the Act amounting

MATRIX PARTNERS INDIA INVESTMENT HOLDINGS, LLC,MAURITIUS vs. DEPUTY COMMISSIONER OF INCOME TAX, MUMBAI

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

Bench: Smt. Beena Pillai () & Ms. Padmavathy S ()

capital gains of INR 31,59,01,013, being a different source and claimed as exempt under Article 13(4) of the India-Mauritius Double Tax Avoidance Agreement ('DTAA'). 2. Erroneous initiation of penalty under section 270A of the Act - On the facts and circumstances of the case and in law, the learned AO has erred in initiating penalty proceedings

ZODIAC JRD MKJ LTD,MUMBAI vs. ASST CIR 5(3)(2), MUMBAI

Bench: Shri Prashant Maharishi & Shri Kuldip Singhassessment Year: 2014-15

Capital Gain computed u/s 111A of INR 5,86,046/- as reported in the ITR. 5. The Ld. CIT(A) has erred in levying interest u/s. 234B and 234C of the Income Tax Act, 1961 without considering the facts and circumstances of the case. 6. The Appellant craves leave to add, alter or delete to the ground of appeal

BUNKIM FINANCE & INVESTMENTS P. LTD,MUMBAI vs. ITO 10(3)(1), MUMBAI

In the result, both the appeals stand dismissed

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am

gains arising on sale of short-term capital assets as business income. 3. The Assessing Officer erred in charging interest under sections 234B