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

1,12,27,50,838, claimed as not chargeable to tax under Article 13 of the India Mauritius (IM Treaty). 3. erred in holding that long term capital gains not chargeable to tax under the IM Treaty form part of the 'total income' of the Appellant as per section 2(24) of the Act read with section 4

ISHARES MSCI ALL COUNTRY ASIA EX JAPAN ETF,MUMBAI vs. DCIT (INT. TAX)-2(2)(2), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

1,12,27,50,838, claimed as not\nchargeable to tax under Article 13 of the India Mauritius (IM Treaty).\n3. erred in holding that long term capital gains not chargeable to tax under\nthe IM Treaty form part of the 'total income' of the Appellant as per section\n2(24) of the Act read with section 4

RELIANCE POWER LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 15(3)(1), MUMBAI

In the result, ground of appeal raised by assessee is allowed

Bench: Shri Pawan Singh& Shri Omkareshwar Chidara(Physical Hearing) Dcit – 15(3)(1), Mumbai Reliance Power Limited Room No. 460, 4Th Floor, H-Block, 1St Floor, Dhirubhai Ambani Vs Aayakar Bhavan, M.K. Road, Knowledge City, Koperkhairane, Mumbai – 400020] Navi Mumbai-400710 [Pan: Aaacr2365L] Appellant / Revenue Respondent / Assessee Reliance Power Limited Dcit – 15(3)(1), Mumbai Room No. 460, 4Th Floor, Aayakar Reliance Centre, Ground Floor, 19 Vs Walchand Hirachand Marg, Bhavan, M.K. Road, Ballard Estate, Mumbai – 400001. Mumbai – 400020] [Pan: Aaacr2365L] Appellant / Assessee Respondent / Revenue

1 of factual paper book. Before AO, the assessee explained that deeming fiction of section 50 was confined to computation of capital gain and it did not result in convergent of ‘long term capital asset’ into ‘short term capital asset’. In other words, it was explained that all other purposes, such set off against the other losses, rate

TATA COMMUNICATIONS LIMITED,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX, MUMBAI

In the result, the question of law referred to the Special Bench is answered in favour of the assessee

Bench: Shri Saktijit Dey & Shri Arun Khodpiatata Communications Limited Pr. Cit, Videsh Sanchar Bhavan, Mumbai-1 Vs. M. G. Road, Fort, Mumbai-400 001 Pan/Gir No. Aaacv 2808 C (Appellant) : (Respondent) Appellant By : Shri J. D. Mistri Respondent By : Shri Ritesh Misra, Cit Dr Date Of Hearing : 25.09.2025 Date Of Pronouncement : 25.09.2025 O R D E R Per Saktijit Dey: The Present Appeal, At The Instance Of The Assessee, Assails Order Dated 21.03.2025, Passed U/S. 263 Of The Income Tax Act, 1961 (‘The Act’ For Short), By Learned Principal Commissioner Of Income Tax (‘Ld. Pcit’ For Short), Pertaining To The Assessment Year (A.Y.) 2018-19. 2. Though The Assessee Has Raised Multiple Grounds, Both On Jurisdictional Issues As Well As On Merits, However, There Is Consensus Between The Parties That The Appeal Can Be Decided On Merits, In Which Event, There Is No Need To Go Into Various Other Issues Raised In Appeal.

1) and sub section (2) of section 50 has limited application only in the context of mode of computation of capital gains contention of sections 48 and 49 of the Act and beyond that nothing should be imported to other sections of the Act. 33. Though most of the decisions have been rendered in the context of Section

ACIT 421 MUMBAI, MUMBAI CITY vs. SAMIR NARAIN BHOJWANI, MUMBAI

Appeal of the assessee is allowed for statistical purposes and the\nappeal of the revenue is dismissed

1) and sub section (2) of section 50\nhas limited application only in the context of mode of computation of capital gains\ncontention of sections 48 and 49 of the Act and beyond that nothing should be\nimported to other sections of the Act.\n-. \n33. Though most of the decisions have been rendered in the context of Section

SAMIR NARAIN BHOJWANI ,MUMBAI vs. DCIT 4(2)(1), MUMBAI

Appeal of the assessee is allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

1) and sub section (2) of section 50 has limited application only in the context of mode of computation of capital gains contention of sections 48 and 49 of the Act and beyond that nothing should be imported to other sections of the Act. 33. Though most of the decisions have been rendered in the context of Section

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)

4,90,096/- Short term capital gain without STT 7,29,584/- Net Short term capital gain 2,39,488/- Less Brokerage 5,914/- Taxable short term capital gain of normal rate 2,33,574/- Long term capital gain at 10% rate (as per computation) 1,49,431/- I have perused the assessment order and have considered submissions

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)

4,90,096/- Short term capital gain without STT 7,29,584/- Net Short term capital gain 2,39,488/- Less Brokerage 5,914/- Taxable short term capital gain of normal rate 2,33,574/- Long term capital gain at 10% rate (as per computation) 1,49,431/- I have perused the assessment order and have considered submissions

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

capital gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

1) where assessee suffers loss in\nrespect of any source under any head of income other than capital gain,\nassessee is entitled to have the amount of such loss set of against his income\nfrom any other source under the same had. Therefore, these provisions speaks\nabout inter head adjustment other than the head of capital gains. For capital\ngains

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

capital gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

capital gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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 gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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 gains amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

1) where assessee suffers loss in\nrespect of any source under any head of income other than capital gain,\nassessee is entitled to have the amount of such loss set of against his income\nfrom any other source under the same had. Therefore, these provisions speaks\nabout inter head adjustment other than the head of capital gains. For capital\ngains

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 amounting to Rs.\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

capital gains amounting to Rs.\n\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

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

capital gains amounting to Rs.\n\n333,85,21,896 on the sale of shares acquired before 01/04/2017\n(grandfathered sale) as exempt under Article 13(4) of the India-Mauritius\nDouble Taxation Avoidance Agreement (“DTAA”). The AO, vide draft\nassessment order dated 24/03/2024 passed under section 144C (1

FRANK S INTERNATIONAL ITL LIMITED,MUMBAI vs. ACIT(IT), CIRCLE (2)(3)(1), MUMBAI, MUMBAI

In the result, the question of law referred to the Special Bench is answered in favour of the\nassessee

1) and sub section (2) of section 50\nhas limited application only in the context of mode of computation of capital gains contention of\nsections 48 and 49 of the Act and beyond that nothing should be imported to other sections of the\nAct.\n33. Though most of the decisions have been rendered in the context of Section