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2021 (8) TMI 222 - HC - Income TaxSale of Certified Emission Reduction Credit - revenue or capital receipt - whether Tribunal was right in holding that the proceeds realized by the assessee on sale of Certified Emission Reduction Credit, which the assessee had earned on the Clean Development Mechanism in its wind energy operations, is a capital receipt and not taxable? - HELD THAT:- Following the judgment made in S.P.Spinning Mills Pvt. Ltd., [2021 (1) TMI 1081 - MADRAS HIGH COURT] and the judgment reported in Ambika Cotton Mills Ltd. [2014 (3) TMI 428 - ITAT CHENNAI] the questions of law are decided against the Revenue and in favour of the assessee.
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