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 - 4: Rejecting the hierarchy of set-off of\nShort-Term Capital losses adopted by the Appellant\n1. 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 (STCG) in respect of transactions on the sale of shares not chargeable\nto STT;\n2. failed

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. erred in rejecting the hierarchy of set-off of short-term capital losses adopted by the Appellant and thereby, taxing the gross short-term capital gains (STCG) in respect of transactions on the sale of shares not chargeable to STT; 2. failed to appreciate that income under the head 'Capital Gains' is determined as per sections

DY..C.I.T., BANGALORE vs. M/S STATE BANK OF MYSORE, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

capital expenditure incurred towards rights issue 8 Grounds of Revenue's appeal Issues Ground Number General 1 Deduction under section 36(1)(viia) (connected to ground no.2 in 2 assessee's appeal). Allowing provision for Janata Deposit Collector Gratuity 3 Expenditure incurred towards right issue of shares (connected to 4 ground no.8 in assessee's appeal) State Bank of India

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

capital expenditure incurred towards rights issue 8 Grounds of Revenue's appeal Issues Ground Number General 1 Deduction under section 36(1)(viia) (connected to ground no.2 in 2 assessee's appeal). Allowing provision for Janata Deposit Collector Gratuity 3 Expenditure incurred towards right issue of shares (connected to 4 ground no.8 in assessee's appeal) State Bank of India

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) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in law in holding that capital gain arising from transfer of depreciable assets was liable to be set off against brought forward Long Term Capital Loss without appreciating that under section 50 of the Income Tax Act, 1961 such capital gain

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

Section 50 cannot convert the long term capital asset into a short term capital asset and therefore, the principle laid down by the Hon'ble Jurisdictional High Court in all the above quoted cases acts as a binding precedent. 41. It came to our notice that this Tribunal in the case of Velvet Holdings (P.) Ltd. v. ACIT [IT Appeal

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)

1,03,36,950 2,67,46,584 Accordingly, the Assessing Officer passed the Final Assessment Order, dated 29/01/2025, holding that STCG of INR.1,03,36,950/- was taxable at the rate of 15% under Section 115AD read with Section 111A of the Act and the balance amount of INTR.2,67,46,584/- was taxable at the rate

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)

1,03,36,950 2,67,46,584 Accordingly, the Assessing Officer passed the Final Assessment Order, dated 29/01/2025, holding that STCG of INR.1,03,36,950/- was taxable at the rate of 15% under Section 115AD read with Section 111A of the Act and the balance amount of INTR.2,67,46,584/- was taxable at the rate

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

1. Hon'ble Bombay High Court in case of CIT vs. M. N. Raigi reported in\n(1949) 17 ITR 180 considered as to whether share income of a partner which\ndoes not form part of the total income, is to be added to the total income in\norder to determine the rate at which income tax was payable

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 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. Hon'ble Bombay High Court in case of CIT vs. M. N. Raigi reported in\n(1949) 17 ITR 180 considered as to whether share income of a partner which\ndoes not form part of the total income, is to be added to the total income in\norder to determine the rate at which income tax was payable

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

41,36,05,850.\nMerits of the case:\nRejecting the hierarchy of set-off of Short-Term 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

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

41,36,05,850.\nMerits of the case:\nRejecting the hierarchy of set-off of Short-Term 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

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

41,36,05,850.\n\nMerits of the case:\nRejecting the hierarchy of set-off of Short-Term Capital losses adopted\nby the Appellant\n\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

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

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

1. Hon'ble Bombay High Court in case of CIT vs. M. N. Raigi reported in\n(1949) 17 ITR 180 considered as to whether share income of a partner which\ndoes not form part of the total income, is to be added to the total income in\norder to determine the rate at which income tax was payable

M/S WF ASIAN SMALLER COMPANIES FUND LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION CIRCLE 4(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.459/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14) M/S. Wf Asian Smaller बिधम/ Acit, Circle-4(3)(2) Companies Fund Ltd Room No. 1611, 16Th Vs. C/O Ankul Goyal, Azb & Floor, Air India Building, Partners A8, Sector-4, Nariman Point, Mumbai- Noida 201301. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacw5648R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Deepak Chopra/Ankul Goyal Revenue By: Shri Soumedu Kumar Dash (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 28/03/2023 घोषणा की तारीख /Date Of Pronouncement: 23/06/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Passed By The Ao Dated 19.01.2023 U/S 147 R.W.S 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”) Pursuant To The Direction Issued By The Ld. Dispute Resolution Panel (Drp) For Ay. 2013-14. 2. The Assessee Has Raised The Legal Issue Challenging The Action Of The Ao To Have Reopened The Original-Scrutiny-Assessment U/S 143(3) Of The Act, After Four (4) Years [From The End Of The Relevant Assessment Year] Without Satisfying The Additional Condition Precedent As Prescribed In The Proviso To Section 147(1) Of The Act. Since The Assessee Has Raised The Legal Issue Assailing The Jurisdiction Of Ao To Have Issued Notice U/S 148 Of The Act, Proposing Re-Opening Of The Original Assessment [Framed Under Scrutiny Under Section 143(3) Of The Act], We Will Adjudicate It First. For Appreciating The Legal Issue, Let Us

41 A.Y. 2013-14 M/s. WF Asian Smaller Companies Therefore, we find that the additional condition stipulated in the proviso to section 147 of the Act for successfully usurping the jurisdiction u/s 147 of the Act has not been satisfied in the facts and circumstances of the case. And therefore, the action of the AO to reopen the assessment