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. As a result, Grounds no.1 to 4 raised in assessee’s appeal are allowed. 35. The issue arising in Ground no.5, raised in assessee’s appeal, pertains to the levy of interest under section 234C

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 and section 234C

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 and section 234C

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

234C and 234D of the Act.\nShort grant of TDS credit - Rs.236,926\n8. erred in granting TDS credit to Rs.236,926.\nInitiation of penal proceedings under section 270A of the Act\n9. erred in initiating penalty under section 270A of the Act alleging\nmisreporting of income by the Appellant.\"\n2.\nThe issue arising in grounds no.1 to 4, raised

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

234C and 234D of the Act.\nShort grant of TDS credit - Rs.236,926\n8. erred in granting TDS credit to Rs.236,926.\nInitiation of penal proceedings under section 270A of the Act\n9. erred in initiating penalty under section 270A of the Act alleging\nmisreporting of income by the Appellant.\"\n2.\nThe issue arising in grounds no.1 to 4, raised

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

234C and 234D of the Act.\nShort grant of TDS credit - Rs.236,926\n8. erred in granting TDS credit to Rs.236,926.\nInitiation of penal proceedings under section 270A of the Act\n9. erred in initiating penalty under section 270A of the Act alleging\nmisreporting of income by the Appellant.\"\n2. The issue arising in grounds no.1 to 4, raised

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 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

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

gains (not subjected to STT) as against 15% as\nclaimed by the Appellant in the return of income\nErred in granting credit for taxes deducted at source only\nto the extent of INR 50,618,157 as against INR\n55,547,350 as claimed by the Appellant in the return of\nincome.\nErred in levying interest under section 234C

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

234C of the Act\namounting to INR 3,50,285,\n9. Initiating penalty proceedings under section 270A of the\nAct.\nErred in initiating penalty under section 270A of the\nAct alleging under reporting of income by the Appellant.”\n4. Ground No.1 to 6:\nThe relevant facts in brief are that the Assessee, a trust\norganized in the United States

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

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\nto Rs.10,020.\nInitiation of penal proceedings under section 270A of the Act\n17. erred in initiating penalty under section 274 r.w.s.270A of the\nAct alleging underreporting

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

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\nto Rs.10,020.\nInitiation of penal proceedings under section 270A of the Act\n17. erred in initiating penalty under section 274 r.w.s.270A of the\nAct alleging underreporting

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

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\nto Rs.10,020.\nInitiation of penal proceedings under section 270A of the Act\n17. erred in initiating penalty under section 274 r.w.s.270A of the\nAct alleging underreporting

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

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

capital gains arising from sale transactions subjected to STT. 4. erred in not following the binding decisions of the jurisdictional Tribunal and rejecting the set-off merely because the Department has preferred an appeal before the jurisdictional High Court against one of the orders of the jurisdictional Tribunal. Levy of interest under Section 234C

SCHWAB FUNDAMENTAL EMERGING MARKETS EQUITY ETY ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-4(2)(1), MUMBAI

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

Capital Gain 5,24,02,19,366 Taxable @ 10% Income from Other sources 1,24,38,93,370 Taxable @ 20% (Dividend income) Income from Other sources 1,90,920 Taxable @ 30% (interest from company) Total Taxable income 6,56,03,95,980 15. Assessed under section 143(3) rw.s. 144C(13) of the Income Tax Act, 1961. Give due credit

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 and 234C