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2014 (10) TMI 820 - AT - Income TaxCapital receipt or Revenue receipt - Whether the amount of ₹ 49,21,087 received by the assessee on account of clean development mechanism (CDM) is capital or revenue receipt - Held that:- Similar view has been taken by the co-ordinate Bench of the Tribunal in the cases of Sri Velayudhaswamy Spinning Mills P. Ltd. v. Deputy CIT [2015 (4) TMI 132 - ITAT CHENNAI], Sri Ambika Cotton Mills Ltd. v. Deputy CIT [2014 (3) TMI 428 - ITAT CHENNAI] and many other similar cases. - The hon'ble Andhra Pradesh High Court in the appeal of the Revenue in CIT v. My Home Power Ltd. in [2014 (6) TMI 82 - ANDHRA PRADESH HIGH COURT] has upheld the view taken by the Hyderabad Bench in the case of My Home Power Ltd. v. Deputy CIT [2012 (11) TMI 288 - ITAT HYDERABAD]. - amount received by the assessee on account of CDM (carbon credits) is capital in nature. The impugned order is set aside - Decided in favour of assessee.
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