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2019 (11) TMI 1682 - AT - Income TaxCharacterization of income - income on sale of Certified Emission Reduction / Carbon Credit - whether it is a benefit derived during the course of the business of the assessee and therefore, the same was taxable u/s 28(iv) r.w.s. 2(24)(vd) or capital receipt - HELD THAT:- As relying on M/S. DODSON LINDBLOM HYDRO POWER PVT. LTD. [2019 (4) TMI 1034 - BOMBAY HIGH COURT] we find the issue stands covered and decided in favour of the assessee. Following the parity of reasoning, we are of the opinion that the said carbon credits is outside the scope of the chargeability of tax as the same constitutes “capital receipts”. - Decided against revenue.
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