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

section 234B of the Act, which is consequential\nin nature. Therefore, the same needs no separate adjudication.\n66.\nGround no.15, raised in assessee's appeal, pertains to the initiation of\npenalty proceedings under section 270A of the Act, which is premature in\nnature. Therefore, the said ground is dismissed.\n43\nITAs

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\n70(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

section 143(3) read with section\n144C(13) of the Act dated 15 January 2025, Issued by the Deputy\nCommissioner of Income Tax (International Taxation) - 2(2)(2), Mumbai ['the\nlearned AO'] in pursuance of the directions under section 144C(5) of the Act\nissued by the Hon'ble DRP 1, Mumbai dated 5 December 2024 on the\nfollowing grounds

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

section 270A of the Act, which is premature in\nnature. Therefore, the said ground is dismissed.\n67. In the result, the appeal by the assessee is partly allowed for statistical\npurposes.\n42\nITAs No. 2085, 2134, 2147, 2148, 2149, 2150, 2151, 2152, 2153, 2154/Mum/2025 43\nITA No. 2150/Mum/2025\nIShare MSCI Emerging Markets ETF – A.Y. 2022-23\n68. In this appeal

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 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

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

gain on conversion of capital asset into stock in trade in accordance with conversion of capital asset into stock in trade in accordance with conversion of capital asset into stock in trade in accordance with M/s Bombay Dyeing & Manufacturing Co. Ltd. M/s Bombay Dyeing & Manufacturing Co. Ltd. ITA Nos. 4484, 4485, 4291 & 4293/M/2019 law. The ground No.1 of the appeal

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

gain on conversion of capital asset into stock in trade in accordance with conversion of capital asset into stock in trade in accordance with conversion of capital asset into stock in trade in accordance with M/s Bombay Dyeing & Manufacturing Co. Ltd. M/s Bombay Dyeing & Manufacturing Co. Ltd. ITA Nos. 4484, 4485, 4291 & 4293/M/2019 law. The ground No.1 of the appeal

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

gain on conversion of capital asset into stock in trade in accordance with conversion of capital asset into stock in trade in accordance with conversion of capital asset into stock in trade in accordance with M/s Bombay Dyeing & Manufacturing Co. Ltd. M/s Bombay Dyeing & Manufacturing Co. Ltd. ITA Nos. 4484, 4485, 4291 & 4293/M/2019 law. The ground No.1 of the appeal

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

gain on conversion of capital asset into stock in trade in accordance with conversion of capital asset into stock in trade in accordance with conversion of capital asset into stock in trade in accordance with M/s Bombay Dyeing & Manufacturing Co. Ltd. M/s Bombay Dyeing & Manufacturing Co. Ltd. ITA Nos. 4484, 4485, 4291 & 4293/M/2019 law. The ground No.1 of the appeal

SUKHPAL SINGH AHLUWALIA,MUMBAI vs. ITO (INTERNATIONAL TAXATION) WARD 1(1)(1), MUMBAI

In the result, appeal of assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Raj Kumar Chauhan, Jm Income Tax Officer Sukhpal Singh Ahluwalia (International Tax) Ward 6/24, Milan Building, 1(1)(1), 87, Tardeo Road, Room No.1817A, 18 Th Vs. Opp. Tardeo A C Market, Floor, Air India Building, Mumbai-400 034 Nariman Point, Mumbai-400 021 (Appellant) (Respondent) Pan No. Azupa6884D Assessee By : Shri Rashmikant C. Modi & Ms. Ketki Rajeshirke, Ars Revenue By : Shri Soumendu Kumar Sash, Dr Date Of Hearing: 18.04.2024 27.05.2024 Date Of Pronouncement :

254 of the Income-tax Act, 1961 (the Act) dated 4thAugust 2023. Brief facts of the case show that assessee is a non-resident 02. Indian. He is deriving income from salaries, capital gains and other sources. He filed his return of Income [ROI] on 1/8/2019 at Rs 13,94,170/-. Draft Assessment order was passed on 29/09/2021

DCIT-14(1)(1), MUMBAI vs. JAYMALA INFRASTRUCTURE PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dism

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2012-13

254 Speciality Paper 7,68,16,760 7,68,16,760 1,72,08,14,208 1,79,76,30,968 1,91,50,53,995 Limited Terry Towel 1,00,00,000 1,00,00,000 8,71,68,075 9,71,68,075 1,90,099,702 Industries Limited 6.7 Despite specific report called Despite specific report called

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(4), MUMBAI vs. SHRI NARENDRA GEHLAUT, MUMBAI

In the result, the appeal filed by the Revenue is partly allowed e appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2017-18 The Dy. Cit, Central Circle-6(4), Shri Narendra Gehlaut, Room No. 1925, 19Th Floor, Air 875, Sector – 17B, Gurgaon, India Building, Nariman Point, Vs. Haryana, 122 001. Mumbai-400021. Pan No. Aazpg 9630 K Appellant Respondent

capital gain. 5.7 The ld counsel further ld counsel further relied on the decision of the Hon' ble on the decision of the Hon' ble the case of Gurbax Singh v. Kartar Singh Gurbax Singh v. Kartar Singh Supreme Court in the case of [2002] 254 IT 112 (SC) [2002] 254 IT 112 (SC) wherein it was held that

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

UDAYAN GROVER,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE(NFAC), DELHI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleudayan Grover V. National Faceless Appeal Centre Panch Mahal Delhi Panch Sristhi Complex {Acit – 26(3), Bkc, Mumbai} Powai, Mumbai - 400072 Pan: Aclpg0572G (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punmiya Department Represented By : Ms. Kavitha Kaushik

section 147, of the Income- (Ahmedabad - Trib.) IN THE tax Act, 1961 - Capital gains - Income arising from ITAT AHMEDABAD BENCH 'B' transfer of long-term securities (Bogus transactions) - Pratik Suryakant Shah v. AY 2006-07 - Assesse purchased 3000 shares of Income-tax Officer, Ward- 10 company 'T' through a stock broker - These shares (3), Ahmedabad* OCTOBER 21, were transferred

ACIT - CIRCLE- 6(2)(2), MUMBAI vs. DIRECT MEDIA DISTRIBUTION VENTURES PVT. LTD., MUMBAI

In the result, appeal of the revenue dismissed and appeal of the assessee is also dismissed

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.2715/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13) The Assistant Commissioner Direct Media Distribution Of Income Tax 6(2)(2), Ventures Pvt. Ltd. बिधम/ Mumbai 135, Continental Building, Vs. Aayakar Bhavan, M.K.Road, Annie Besant Road, Worli, Churchgate, Mumbai-400 020 Mumbai-400 048 स्थायीलेखासं./जीआइआरसं./Pan No. Aadcd1940Q (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

254,4597,000/- without considering the fact that that intrinsic value of the shares is far less than the Discounted P a g e | 2 ITA No. 2715/MUM/2018 & 3084/MUM/2018 Direct Media Distribution Ventures Pvt. Ltd,; A.Y. 2012-13 Net Assets Value method adopted by the Assessee company to charge such high premium?. 2. On the facts and circumstances

DIRECT MEDIA DISTRIBUTION VENTURES PVT. LTD.,MUMBAI vs. ITO , RG-6(2)(3)(PRESENT IN CHARGE ACIR-RG-6(2)(2), MUMBAI

In the result, appeal of the revenue dismissed and appeal of the assessee is also dismissed

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.2715/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13) The Assistant Commissioner Direct Media Distribution Of Income Tax 6(2)(2), Ventures Pvt. Ltd. बिधम/ Mumbai 135, Continental Building, Vs. Aayakar Bhavan, M.K.Road, Annie Besant Road, Worli, Churchgate, Mumbai-400 020 Mumbai-400 048 स्थायीलेखासं./जीआइआरसं./Pan No. Aadcd1940Q (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

254,4597,000/- without considering the fact that that intrinsic value of the shares is far less than the Discounted P a g e | 2 ITA No. 2715/MUM/2018 & 3084/MUM/2018 Direct Media Distribution Ventures Pvt. Ltd,; A.Y. 2012-13 Net Assets Value method adopted by the Assessee company to charge such high premium?. 2. On the facts and circumstances