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2017 (11) TMI 1967 - HC - Income TaxNature of income - income from sale of Carbon Emission Reduction Certificates (CERs) - ITAT held it as capital income - whether the same was specifically a revenue report and even the assessee has claim benefit u/s 80IA? - HELD THAT:- As decided in M/S. SUBHASH KABINI POWER CORPORATION LIMITED [2016 (5) TMI 793 - KARNATAKA HIGH COURT] When the carbon credit is generated out of environmental concerns, and it is not having the character of trading activity, the Tribunal has rightly held that it is capital receipt and it is not income out of business and hence, not liable to pay income tax. - Decided in favour of the assessee and against the department.
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