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

section 74 of the Act. Grounds of Appeal Nos. 8 - 12: Failure to allow set-off of brought forward long-term capital 7. erred in setting off the long -term capital losses brought forward from earlier Assessment Years amounting to Rs. 26,506,339,311 against the current year's net long-term capital gains

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

7. On the treatment of long term capital gain on sale of helicopter as short term capital gain, the assessee submitted that helicopter was acquired from Reliance Natural Resources Ltd.(RNRL) on demerger during F.Y. 2010-11 and is sold during the year under consideration. The written down value of block of asset was Rs. 25.34 lakhs, thus, differential amount

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.

Section 74 of the Act, the deemed short term capital gain continues to be long term capital gain. Moreover, it appears that the Revenue has accepted the decision of the Tribunal in Komac Investments and Finance (P.) Ltd.'s case (supra), as our attention has not been drawn to any appeal being filed from that order. 7

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 74 of the Act, the deemed short term capital gain continues to be long term capital gain. Moreover, it appears that the Revenue has accepted the decision of the Tribunal in Komac Investments and Finance (P.) Ltd.'s case (supra), as our attention has not been drawn to any appeal being filed from that order. 7

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

capital gain for the purpose of Section 50 and such deeming\nfiction is with regard to applicability of Section 48 & 49. The decision of the Hon'ble\nSupreme Court cannot be a binding precedent on the issue which was not there at all.\nIt is axiomatic that the decision cannot be relied upon which was not the issue or\ncontext

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)

capital gain. 7. Erred in granting credit for taxes deducted at source only to the extent of INR 10,09,36,049 as against INR 106,223,167 as claimed by the Appellant in the return of income. 8. Erred in levying interest under 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)

capital gain. 7. Erred in granting credit for taxes deducted at source only to the extent of INR 10,09,36,049 as against INR 106,223,167 as claimed by the Appellant in the return of income. 8. Erred in levying interest under section

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

7 791,221/-.\nwhich is chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n017. The only dispute between the assessee

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

7 791,221/-\nwhich is chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n017. The only dispute between the assessee

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

7 791,221/-.\nwhich is chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n\n017. The only dispute between the assessee

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

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 of short-term capital gains arising from sale of shares

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

7 791,221/-which is chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n017. The only dispute between the assessee

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

7 791,221/-which\nis chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n017. The only dispute between the assessee

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

7 791,221/-\nwhich is chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n017. The only dispute between the assessee

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

7 791,221/- which\nis chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n017. The only dispute between the assessee

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

7 791,221/-which is chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n017. The only dispute between the assessee

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

7 791,221/-.\nwhich is chargeable to tax at the rate of 30%. Assessee claims that it has\nshort-term capital loss on which securities transaction taxes are paid, and\ntherefore such loss should be set-off against the short-term capital gain\nirrespective of the tax bracket of such gain andlosses.\n017. The only dispute between the assessee

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

7,690,487,848 from AY 2016-17) to subsequent years, on the ground that the capital gains earned by the subsequent years, on the ground that the capital gains earned by the subsequent years, on the ground that the capital gains earned by the Appellant (prior to 1 April 2017) were exempt from tax under the Double ant (prior