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

In the result, appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

68. Consequently, in the present case, the fair market value as on 31 January 2018, taken at ₹500 per share as per the valuation report submitted by the assessee, shall constitute the cost of acquisition for the purpose of computing long-term capital gains. Applying this measure, the resultant gain under section 112A

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

68,19,012/- made by the AO in respect of LTCG on sale of shares of RIL is deleted.” 6. Being aggrieved by the above order of Ld. CIT(A), the Revenue is now before us. 7. Assailing the action of Ld. CIT(A), the Ld. CIT, DR appearing for the Revenue submitted that the Ld. CIT(A) had factually

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

68,19,012/- made by the AO in respect of LTCG on sale of shares of RIL is deleted.” 6. Being aggrieved by the above order of Ld. CIT(A), the Revenue is now before us. 7. Assailing the action of Ld. CIT(A), the Ld. CIT, DR appearing for the Revenue submitted that the Ld. CIT(A) had factually

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX-CIRCLE 6(1)(1), MAHARASHTRA

68,31,954/- during\nthe year ended 31.03.2017 and, out of abundant caution,\ndisallowed 30 per cent thereof amounting to Rs. 50,49,586/-\nunder section 40(a) of the Act in A.Y. 2017–18 (a copy of the\nstatement of computation of income for A.Y. 2017-18 was placed\non record). It was further submitted that

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

112A of the Act amounting to Rs. 25079,25,33,124. Further, at the same time, the assessee has claimed net long-term capital gains amounting to Rs. 718,19,23,425 on the sale of shares acquired before 01/04/2017 (grandfathered sale) as exempt under Article 13(4) of the India-Mauritius Double Taxation Avoidance Agreement (“DTAA

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

112A of the Act\namounting to Rs. 25079,25,33,124. Further, at the same time, the assessee\nhas claimed net long-term capital gains amounting to Rs. 718,19,23,425 on\nthe sale of shares acquired before 01/04/2017 (grandfathered sale) as\nexempt under Article 13(4) of the India-Mauritius Double Taxation Avoidance\nAgreement (“DTAA

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

112A of the Act amounting to Rs. 25079,25,33,124. Further, at the same time, the assessee has claimed net long-term capital gains amounting to Rs. 718,19,23,425 on the sale of shares acquired before 01/04/2017 (grandfathered sale) as exempt under Article 13(4) of the India-Mauritius Double Taxation Avoidance Agreement (“DTAA

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

section 270A of the Act for under- reporting of income. reporting of income. The Appellant craves leave to add, alter, vary, omit, substitute, amend The Appellant craves leave to add, alter, vary, omit, substitute, amend The Appellant craves leave to add, alter, vary, omit, substitute, amend or withdraw any or all of the above grounds of appeal

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX- CIRCLE 6(1)(1), MAHARASHTRA

Bench: Shri Amit Shukla & Shri Makarand Vasant Mahadeokar1. Ita No. 6663/Mum/2025 (Assessment Year: 2017-18) 2. Ita No. 6701/Mum/2025 (Assessment Year: 2018-19) 3. Ita No. 6702/Mum/2025 (Assessment Year: 2022-23) & 4. Ita No. 6703/Mum/2025 (Assessment Year: 2023-24) Aditya Birla Sun Life Dcitcircle-6(1)(1), Amc Limited, Room No. 502, 5Th 17Th Floor, One World Vs. Floor, Aayakar Centre Tower-1, Jupiter Bhavan, M. K. Mill Compount, 841, Road, Churchgate, Senapati Bapat Marg, Mumbai-400 020 Delisle Road, S.O. Mumbai-400 013 Pan/Gir No. Aaacb6134D (Applicant) (Respondent) Assessee By Shri Ronak Doshi, Shri Shrey Agrawal & Shri Aadish Jain, Ld. Ars Revenue By Shri Surendra Mohan, Ld. Dr Date Of Hearing 27.01.2026 Date Of Pronouncement 06.02.2026

68. The learned AR reiterated the facts and submitted that the issue is purely factual in nature, supported by documentary evidence on record, and the lower authorities failed to appreciate the correct factual position. The ld. AR, therefore, prayed that the disallowance be deleted. (35) ITA No. 6663, 6701, 6702 & 6703 /Mum/2025 Aditya Birla Sun Life AMC Limited

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX- CIRCLE 6 (1)(1), MAHARASHTRA

68,31,954/- during\nthe year ended 31.03.2017 and, out of abundant caution,\ndisallowed 30 per cent thereof amounting to Rs. 50,49,586/-\nunder section 40(a) of the Act in A.Y. 2017–18 (a copy of the\nstatement of computation of income for A.Y. 2017-18 was placed\non record). It was further submitted that

ADITYA BIRLA SUN LIFE AMC LIMITED,MAHARASHTRA vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 6(1)(1), MAHARASHTRA

68,31,954/- during\nthe year ended 31.03.2017 and, out of abundant caution,\ndisallowed 30 per cent thereof amounting to Rs. 50,49,586/-\nunder section 40(a) of the Act in A.Y. 2017–18 (a copy of the\nstatement of computation of income for A.Y. 2017-18 was placed\non record). It was further submitted that

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 ()

68 Taxman 152 (SC) are to be examined for DTA v. DTAA benefits. 2. Applicant has not netted off the capital gains, even from the same Share Sale Agreement, and has alternated between DTA v. DTAA provisions. 3. Following the Rule laid down by the Apex Court for determination of quantum of "Capital gains", the gain or loss

ANANT BAJAJ TRUST,MUMBAI vs. DEPUTY DIRECTOR OF INCOME TAX, BENGALURU

In the result, appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2022-23 Anant Bajaj Trust Deputy Director Of Income Tax, 2Nd Floor, Bajaj Bhavan, Bengaluru Jamnalal Bajaj Marg, Nariman Point, Vs. Mumbai – 400021 (Pan: Aagta3192B) (Appellant) (Respondent) Present For: Assessee : Ms. Vasanti Patel, Advocate & Shri M. A. Gohel, Ca Revenue : Shri Aditya M. Rai, Sr. Dr Date Of Hearing : 24.06.2025 Date Of Pronouncement : 28.08.2025 O R D E R

112A of the Act (Rs.29,16,505/-) at the maximum rate of 37% in the case of the Appellant. 2.2 The ld. AO failed to appreciate that the applicable rate of surcharge, as prescribed under the Part-1 of the First Schedule to the Finance Act for the Total Income excluding Dividend Income and income covered under the provisions

GJ TRUST,MUMBAI vs. ITO WARD 26(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee bearing ITA No

68,90,120/- which includes sum of Rs.2,88,26,273/- capital gains\nchargeable under section 112, 112A, short

SCHWAB FUNDAMENTAL EMERGING MARKETS EQUITY ETY ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-4(2)(1), MUMBAI

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

112A, 115A, 115BBE are all contained in Chapter XII Determination of Tax in certain special cases and is an extension of tax rate applicable, modifying the same. Therefore, in the process of determination of income chargeable under the head "Capital Gains" and consequently determination of total income, the applicability of the relevant tax rates has to be brought into play