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

B” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) - 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

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

B” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) - 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

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

B” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) - 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

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

B” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) - 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

PRASHANT KOTHARI,SINGAPORE vs. CIT A (57) MUMBAI, OFFICE OF COMMISSIONER OF APPEALS MUMBAI

In the result, the additional ground of\nappeal is allowed

B. International (Asia) Lid [2018] 96 taxmann.com 75\n(Mumbai - Trib.), Citicorp Investment Bank (Singapore) Ltd vs. DCIT [2017]\n81 taxmann.com 368 (Mumbai - Trib.) and APL Co. Pte Lid vs. ADIT [2017]\n185 TTJ 305 (Mumbai). It was submitted that the Tribunal in case of\nCiticorp Investment Bank (Singapore) Lid (supra) and APL Co. Pte Ltd\n(supra) has held

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 ()

B) The expression 'to the extent' used in the section 90(2) of the Act signifies that, the provisions of the Act or the tax treaty, whichever is beneficial, are to be considered. He submitted that, the said principle has is also upheld by Hon’ble Supreme Court in the case of Union of India v. Azadi Bachao Andolan reported

DCIT (IT) 4(1)(1), MUMBAI, MUMBAI vs. ROBECO QI INSTITUTIONAL EMERGING MARKETS ENHANCED INDEX EQUITIES FUND, MUMBAI

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2016-17 Dcit (It)-4(1)(1), Robeco Institutioneel Emerging Markets 625, Kautilya Bhavan, G-Block, Fonds, Vs. Bandra Kurla Complex, C/O Ernst & Young Llp, 14Th Floor, Mumbai-400051. The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan No. Aacts 7682 L Appellant Respondent Assessment Year: 2021-22 Dcit (It)-4(1)(1), Robeco Q1 Institutional Emerging 625, Kautilya Bhavan, G-Block, Markets Enhanced Index Equities Fund, Vs. Bandra Kurla Complex, 14Th Floor, The Rc/O Ernst & Young Mumbai-400051. Llp, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan No. Aabtr 2305 L Appellant Respondent

4,86,45,424 A.Y.2012-13 75,17,581 A.Y.2013-14 82,82,795 A.Y.2014-15 3,00,64,911 A.Y.2015-16 33,79,91,711 3.1 During the year under consideration, the assessee claimed During the year under consideration, the assessee claimed During the year under consideration, the assessee claimed carry forward of the short term capital and long term capital loss. carry

DCIT (IT) - 4(1)(1), MUMBAI, MUMBAI vs. ROBECO INSTITUTIONEEL EMERGING MARKETS FONDS , MUMBAI

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2016-17 Dcit (It)-4(1)(1), Robeco Institutioneel Emerging Markets 625, Kautilya Bhavan, G-Block, Fonds, Vs. Bandra Kurla Complex, C/O Ernst & Young Llp, 14Th Floor, Mumbai-400051. The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan No. Aacts 7682 L Appellant Respondent Assessment Year: 2021-22 Dcit (It)-4(1)(1), Robeco Q1 Institutional Emerging 625, Kautilya Bhavan, G-Block, Markets Enhanced Index Equities Fund, Vs. Bandra Kurla Complex, 14Th Floor, The Rc/O Ernst & Young Mumbai-400051. Llp, 29 Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan No. Aabtr 2305 L Appellant Respondent

4,86,45,424 A.Y.2012-13 75,17,581 A.Y.2013-14 82,82,795 A.Y.2014-15 3,00,64,911 A.Y.2015-16 33,79,91,711 3.1 During the year under consideration, the assessee claimed During the year under consideration, the assessee claimed During the year under consideration, the assessee claimed carry forward of the short term capital and long term capital loss. carry

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

B. International 13,61,829 2,11,72,179 1,98,10,349 1455% Stock Brokers Ltd. 4,64,000 76,73,646 72,09,646 1554% 8,23,808 1,00,15,432 91,91,623 1116% 2. Nouveau Multimedia

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

B. International 13,61,829 2,11,72,179 1,98,10,349 1455% Stock Brokers Ltd. 4,64,000 76,73,646 72,09,646 1554% 8,23,808 1,00,15,432 91,91,623 1116% 2. Nouveau Multimedia

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

B. International 13,61,829 2,11,72,179 1,98,10,349 1455% Stock Brokers Ltd. 4,64,000 76,73,646 72,09,646 1554% 8,23,808 1,00,15,432 91,91,623 1116% 2. Nouveau Multimedia

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

B. International 13,61,829 2,11,72,179 1,98,10,349 1455% Stock Brokers Ltd. 4,64,000 76,73,646 72,09,646 1554% 8,23,808 1,00,15,432 91,91,623 1116% 2. Nouveau Multimedia

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

B. International 13,61,829 2,11,72,179 1,98,10,349 1455% Stock Brokers Ltd. 4,64,000 76,73,646 72,09,646 1554% 8,23,808 1,00,15,432 91,91,623 1116% 2. Nouveau Multimedia

PERCIVAL JOSEPH PEREIRA ,MUMBAI vs. INCOME TAX OFFICER (IT)-3(3)(1), MUMBAI

In the result, both the appeals by the assessee are allowed

Bench: Amit Shukla & Shri Girish Agrawal

4) of section 249, no appeal shall be admitted unless prescribed conditions are fulfilled. Sub section (3) of 249 provides for admitting the appeal even if the appeal is filed after the prescribed limitation, if assessee is able to demonstrate sufficient cause for not presenting it within the prescribed period to the satisfaction of the Appellate Authority. It is only

PERCIVAL JOSEPH PEREIRA ,MUMBAI vs. INCOME TAX OFFICER (IT) -3(3)(1), MUMBAI

In the result, both the appeals by the assessee are allowed

Bench: Amit Shukla & Shri Girish Agrawal

4) of section 249, no appeal shall be admitted unless prescribed conditions are fulfilled. Sub section (3) of 249 provides for admitting the appeal even if the appeal is filed after the prescribed limitation, if assessee is able to demonstrate sufficient cause for not presenting it within the prescribed period to the satisfaction of the Appellate Authority. It is only

BAY CAPITAL INDIA FUND LIMITED,MUMBAI vs. CIT (A) 55, MUMBAI, MUMBAI

In the result, the appeal by the assessee is allowed

B” BENCH, MUMBAI\nBEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER\nSHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER\nITA No.6355/MUM/2024\n(Assessment Year 2019-20)\nBay Capital India Fund Limited,\nC/o Minesh Shah & Associates LLP,\nOffice 18, 31st Floor, Marathon Futurex,\nMafatlal Mills Compound, NM Joshi Marg,\nLower Parel (E),\nMaharashtra - 400013\nPAN: AAFCB7682K\nAppellant\nv/s\nRespondent\nAdditional Director Of Income

CREDIT SUISSE (SINGAPORE ) LIMITED ,SINGAPORE vs. COMMISSIONER OF INCOME TAX (INTERNATIONAL TAX), MUMBAI-2

In the result, appeals by the assessee for 2016-17 and 2017-18 are allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं. 1007/मुं/2022 ("न.व.2016-17) आअसं. 1008/मुं/2022 ("न.व.2017-18) Credit Suisse (Singapore) Limited, C/O. Delloite Haskins & Sells Chartered Accountants Llp, 30Th Floor, Tower 3, One International Centre, Senapati Bapat Marg, Elphinstone Road (West), Mumbai 400 013 Pan: Aaccc-7328-N ...... अपीलाथ"/Appellant बनाम Vs. Commissioner Of Income Tax (International Taxation) Mumbai-2, 1706, 17Th Floor, Air India Building, ...... ""तवाद"/Respondent Nariman Point, Mumbai 400 038

249 ITR 517 (SC) and CIT vs. Manmohan Das 59 ITR 699(SC) and also after considering CBDT Circular No.22 of 1944 dated 29/07/1944 held that the assessee is justified in claiming carry forward of brought forward losses of the earlier years to the subsequent years and at the same time upheld assessee’s claim of capital gains as exempt

CREDIT SUISSE (SINGAPORE ) LIMITED ,SINGAPORE vs. COMMISSIONER OF INCOME TAX (INTERNATIONAL TAX), MUMBAI-2

In the result, appeals by the assessee for 2016-17 and 2017-18 are allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं. 1007/मुं/2022 ("न.व.2016-17) आअसं. 1008/मुं/2022 ("न.व.2017-18) Credit Suisse (Singapore) Limited, C/O. Delloite Haskins & Sells Chartered Accountants Llp, 30Th Floor, Tower 3, One International Centre, Senapati Bapat Marg, Elphinstone Road (West), Mumbai 400 013 Pan: Aaccc-7328-N ...... अपीलाथ"/Appellant बनाम Vs. Commissioner Of Income Tax (International Taxation) Mumbai-2, 1706, 17Th Floor, Air India Building, ...... ""तवाद"/Respondent Nariman Point, Mumbai 400 038

249 ITR 517 (SC) and CIT vs. Manmohan Das 59 ITR 699(SC) and also after considering CBDT Circular No.22 of 1944 dated 29/07/1944 held that the assessee is justified in claiming carry forward of brought forward losses of the earlier years to the subsequent years and at the same time upheld assessee’s claim of capital gains as exempt

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-5(4), MUMBAI, MUMBAI vs. LARSEN AND TOUBRO LTD, MUMBAI

In the result the cross appeal filed by the revenue as well as\nassessee stands dismissed

4)\nRoom No. 1927,\n19th Floor,\nAir India Building,\nNariman Point,\nMumbai- 400021.\nL and T House,\nNarottam Morarji Marg,\nBallard Estate,\nMumbai- 400001.\nPAN: AAACL0140P\nVs.\nAppellant\nRespondent\nPresent for:\nAssessee by\nRevenue by\nShri Nitesh Joshi\nDr. K. R. Subhash (CIT-DR)\nDate of Hearing\n26.09.2024\nDate of Pronouncement\n20.12.2024\nORDER\nPer Bench:\nPresent cross appeals filed