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

gains arising on transactions subjected to STT and those not subjected to STT are no different and satisfy the 'similar computation' condition specified in section 70(2) of the Act; 3. failed to appreciate that since section 70 of the Act does not provide any hierarchy for set-off, the short-term capital loss arising from sale of shares subjected

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)

2,82,24,400 [Offered to tax as STCG subject to STT and taxable as per section 115AD read with section 111A of the Act at the rate of 15%] 24. However, the Assessing Officer and DRP did not accept the Assessment Year 2022-2023 Assessee’s treatment and recomputed the assessable capital gains as under: Short-term capital gains

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)

2,82,24,400 [Offered to tax as STCG subject to STT and taxable as per section 115AD read with section 111A of the Act at the rate of 15%] 24. However, the Assessing Officer and DRP did not accept the Assessment Year 2022-2023 Assessee’s treatment and recomputed the assessable capital gains as under: Short-term capital gains

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

2) of the Act;\n3. Failed to appreciate that since section 70 of the Act does not provide any\nhierarchy for set-off, the short-term capital loss arising from sale of shares\nsubjected to Securities Transaction Tax ('STT) can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected to STT\ninstead

ISHARES MSCI INDIA UCITS ETF ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION )-2(2)(2), MUMBAI

2) of the Act;\n\n3. Failed to appreciate that since section 70 of the Act does not provide any\nhierarchy for set-off, the short-term capital loss arising from sale of shares\nsubjected to Securities Transaction Tax ('STT) can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected

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

2) of the Act;\n3. Failed to appreciate that since section 70 of the Act does not provide any\nhierarchy for set-off, the short-term capital loss arising from sale of shares\nsubjected to Securities Transaction Tax ('STT) can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected to STT\ninstead

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 MSCI INDIA ETF(AS A SUCESSOR TO ISHARES INDIA INDEX MARUITIUS COMPANY),MUMBAI vs. DCIT (INT)-2(2)(2), MUMBAI

2) of the Act;\n3. Failed to appreciate that since section 70 of the Act does not provide any\nhierarchy for set-off, the short-term capital loss arising from sale of shares\nsubjected to Securities Transaction Tax ('STT) can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected to STT\ninstead

ISHARES MSCI EM UCITS ETF USD DIST ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(2)(2), MUMBAI

2) of the Act;\n3. Failed to appreciate that since section 70 of the Act does not provide any\nhierarchy for set-off, the short-term capital loss arising from sale of shares\nsubjected to Securities Transaction Tax ('STT) can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected to STT\ninstead

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

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

2) of the Act;\n3. Failed to appreciate that since section 70 of the Act does not provide any\nhierarchy for set-off, the short-term capital loss arising from sale of shares\nsubjected to Securities Transaction Tax ('STT) can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected to STT\ninstead

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

2) of the Act;\n3. Failed to appreciate that since section 70 of the Act does not provide any\nhierarchy for set-off, the short-term capital loss arising from sale of shares\nsubjected to Securities Transaction Tax ('STT) can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected to STT\ninstead

MORGAN STANLEY MAURITIUS COMPANY LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-CIRCLE 3(2)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2020-21 Morgan Stanley Mauritius Company Dy. Cit (International Taxation) – Ltd., Circle 3(2)(2), Vs. C/O S R B C & Associates Llp, 14Th 16Th Floor, Room No. 1615, Air India Floor, The Ruby, 29, Senapati Bapat Building Nariman Point, Marg, Dadar (West), Mumbai-400021. Mumbai-400028. Pan No. Aadcm 5927 G Appellant Respondent

capital gains earned by the Appellant (prior to 1 April 2017) were exempt from tax under the Double ant (prior to 1 April 2017) were exempt from tax under the Double ant (prior to 1 April 2017) were exempt from tax under the Double Taxation avoidance agreement entered into between the Government of Taxation avoidance agreement entered into between

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

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

2) of the Act. 3. failed to appreciate that section 70 of the Act does not provide any hierarchy for set-off of losses, the short-term capital loss arising from sale transactions subjected to STT can be first set-off against the short-term capital gains arising from sale transactions not subjected to STT, instead of short-term capital

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

2) of the Act;\n4. failed to appreciate that since section 70 of the Act does not\nprovide any hierarchy for set-off, the short-term capital loss arising\nfrom sale of shares subjected to STT can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected\nto STT instead of short-term

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

2) of the Act;\n4. failed to appreciate that since section 70 of the Act does not\nprovide any hierarchy for set-off, the short-term capital loss arising\nfrom sale of shares subjected to STT can first be set-off against the\nshort-term capital gains arising from sale of securities not subjected\nto STT instead of short-term