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)

55,47,350/- claimed in the return of income, Assessment Year 2022-2023 the Assessing Officer has granted credit only to the extent of INR.5,06,18,157/-. Therefore, the Assessing Officer is directed to verify the records and grant credit for the balance amount of taxes deducted at source as per law. In terms of aforesaid Ground No.7 raised

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)

55,47,350/- claimed in the return of income, Assessment Year 2022-2023 the Assessing Officer has granted credit only to the extent of INR.5,06,18,157/-. Therefore, the Assessing Officer is directed to verify the records and grant credit for the balance amount of taxes deducted at source as per law. In terms of aforesaid Ground No.7 raised

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

Ac prescribes for offer of capital gain tax on such conversion in the prescribes for offer of capital gain tax on such conversion in the prescribes for offer of capital gain tax on such conversion in the year of sale of stock in trade. year of sale of stock in trade. The two issues are involved in this

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

Ac prescribes for offer of capital gain tax on such conversion in the prescribes for offer of capital gain tax on such conversion in the prescribes for offer of capital gain tax on such conversion in the year of sale of stock in trade. year of sale of stock in trade. The two issues are involved in this

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

Ac prescribes for offer of capital gain tax on such conversion in the prescribes for offer of capital gain tax on such conversion in the prescribes for offer of capital gain tax on such conversion in the year of sale of stock in trade. year of sale of stock in trade. The two issues are involved in this

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

Ac prescribes for offer of capital gain tax on such conversion in the prescribes for offer of capital gain tax on such conversion in the prescribes for offer of capital gain tax on such conversion in the year of sale of stock in trade. year of sale of stock in trade. The two issues are involved in this

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

55, the Department preferred appeals to the Supreme Court. The Supreme Court dismissed the appeals to the Supreme Court. The Supreme Court dismissed the appeals to the Supreme Court. The Supreme Court dismissed the appeals affirming the decision of the High Court appeals affirming the decision of the High Court appeals affirming the decision of the High Court that

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

55, the Department preferred appeals to the Supreme Court. The Supreme Court dismissed the appeals to the Supreme Court. The Supreme Court dismissed the appeals to the Supreme Court. The Supreme Court dismissed the appeals affirming the decision of the High Court appeals affirming the decision of the High Court appeals affirming the decision of the High Court that

AJAY JAISINGHANI ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, the appeal filed by the assessee is hereby allowed for statistical purpose

Bench: SHRI. NARENDRA KUMAR BILLAIYA (Accountant Member), MS. KAVITHA RAJAGOPAL (Judicial Member)

capital gains: Without prejudice, provisions of section 55(2)(aa)(ia) of the Act cannot be imported into the provisions of section 55(2)(ac

GIRDHARI JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Anikesh Banerjee, Hon’Ble

capital gains; Without prejudice, provisions of section 55(2)(aa)(iiia) of the Act cannot be imported into the provisions of section 55(2)(ac

DY. COMMISSIONER OF INCOME TAX , CC 5(2) CENTRAL RANGE-5, MUMBAI vs. M/S. WELLKNOWN BUSINESS VENTURES LLP, MUMBAI

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

capital gain worked out by the assessee in terms of Section 112A read with Section 55(2)(ac) of the Act and hence

DY. COMMISSIONER OF INCOME TAX , CC 5(2) CENTRAL RANGE-5, MUMBAI vs. M/S. WELLKNOWN BUSINESS VENTURES LLP, MUMBAI

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

capital gain worked out by the assessee in terms of Section 112A read with Section 55(2)(ac) of the Act and hence

PREETI CHIRANIA,MUMBAI vs. THE INCOME TAX OFFICER WARD - 28(2)(4), NAVI MUMBAI

In the result, the appeal filed by the assessee partly allowed

Bench: Shri Sandeep Gosain & Ms. Padmavathy Svs. Ito, Ward – 28(2)(4) Preeti Chirania 309, 3Rd Floor, Tower No. Flat No.3, 1St Floor, 6, Vashi Rly Stn., Mangesh Santa Durga Commercial Complex, Chs, Sector – 17, Nerul Vashi Navi Mumbai – 400 (E), Navi Mumbai – 400 703. 706. Pan/Gir No. Akbpc0636M (Applicant) (Respondent)

55 ELT 43 (1991) that the decision of Hon‟ble Jurisdictional High Court would have higher precedence value than the decision of Hon‟ble Non-Jurisdictional High Court on the Tribunal. The Hon‟ble Supreme Court emphasised therein that the orders of the Tribunal should be followed by the authorities falling within its jurisdiction so that judicial discipline would

BHARAT JAISINGHANI ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

Bench: Shri Narender Kumar Choudhry (Jm) & Shri Omkareshwar Chidara (Am) Bharat Jaisinghani Dcit, Central Circle 1302/B, Beau Monde 5(2), Room No. 427 Appasaheb Marathe Marg Vs. Kautilya Bhavan, Bkc Prabhadevi, Mumbai-25 Mumbai-400 051. Pan : Aeipj0261N Appellant Respondent

section 55(2)(ac) of the Act as applicable at the time when the impugned OFS transactions was entered into should be applied: 6. the learned CIT(A) failed to appreciate the fact that since, the additional claim made by the AO in respect of non-chargeability of capital gains

ANJU CHIRANIA,MUMBAI vs. THE INCOME TAX OFFICER, WARD - 4(1)(3), MUMBAI

In the result, the appeal filed by the assessee is allowed

Bench: Shri Pavan Kumar Gadale, Judicialmember & Shri Girish Agrawalanju Chirania, Vs. Ito, Ward –4(1)(3), 301, Sona Chambers, Room No. 637, 507/509, Jss Road, Aayakar Bhavan, Chira Bazar, Marine Lines, M.K.Road, Mumbai – 400 002. Mumbai-400020. Pan/Gir No. Afcpc9073Q (अपीलाथ"/Appellant) (""यथ"/Respondent)

55 ELT 43 (1991) that the decision of Hon‟ble Jurisdictional High Court would have higher precedence value than the decision of Hon‟ble Non-Jurisdictional High Court on the Tribunal. The Hon‟ble Supreme Court emphasised therein that the orders of the Tribunal should be followed by the authorities falling within its jurisdiction so that judicial discipline would

ACIT- 3(1)(1), MUMBAI vs. MM/S SANOFI INDIA LIMITED (FORMERLY KNOWN AS AVENTIS PHARMA LTD)., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

2 to 8). Copy of the order is placed on record. 68. On the other hand, Ld. DR has fairly accepted the submissions of the Ld.AR. 69. Considered the submissions and material placed on record, we observe from the record that identical issue is decided in favour of the assessee for the A.Y. 2002-03. While deciding the issue

M/S SANOFI INDIA LTD (FORMERLY KNOWN AS AVENTIS PHARMA LTD,MUMBAI vs. THE ACIT RG 8(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

2 to 8). Copy of the order is placed on record. 68. On the other hand, Ld. DR has fairly accepted the submissions of the Ld.AR. 69. Considered the submissions and material placed on record, we observe from the record that identical issue is decided in favour of the assessee for the A.Y. 2002-03. While deciding the issue

EVEREST INDUSTRIES LTD.,NOIDA vs. DY CIT CIRCLE- 1, THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

gains, which resulted into loss under normal provisions of the o loss under normal provisions of the Act at ₹18,21,26,459/- whereas book profit remained unchanged at whereas book profit remained unchanged at ₹2,88,27,166/-. Everest Industries Limited ITA Nos. 715, 718/M/2020, 7793, 7794/M/2020 & 1423, 1418, 654, 653/M/2020 1423, 1418, 654, 653/M/2020 3.1 Subsequently, reassessment proceedings