Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Sale of carbon credit - on the sale of excess Carbon Credits ...

Income Tax

August 18, 2015

Sale of carbon credit - on the sale of excess Carbon Credits the income was received it is capital receipt and it cannot be business receipt or income - AT

View Source

 


 

You may also like:

  1. Receipts from sale of carbon credit - No asset is generated in the course of business, but it is generated due to environmental concerns. It was also found that the...

  2. Characterization of income - Transfer of Carbon Credits - the receipt on the sale of carbon credits is liable to be treated as capital receipts, admittedly, the...

  3. Nature of receipt - capital receipt or revenue receipt - On the sale of excess Carbon Credits the income was received and it is capital receipt and it cannot be business...

  4. Computation of book profit u/s 115JB - MAT - The carbon credit is credited to the Profit & Loss account held to be capital receipts and not exigible to tax - AO directed...

  5. Cenvat credit - input services - Clean Development Mechanism Service in relation to Carbon Credit Management Services is an eligible input service - AT

  6. Receipt from transfer of Carbon Emission Reduction ("CER") - carbon credits are not offshoot of business but offshoot of environmental concerns and hence not chargeable...

  7. Cenvat Credit - sales commission/sales promotion expenses incurred by the appellant is expenditure or input service incurred or received prior to the removal of their...

  8. CENVAT Credit - inputs or capital goods - Electrode Carbon Paste(ECS) - electrode carbon paste used and consumed in the process of manufacture of ferro alloys is an...

  9. Denial of credit - Goods received on stock transfer basis - Revenue denied credit on the basis that it was stock transfer and not sale - credit allowed - AT

  10. Cenvat Credit on capital goods received prior to getting registration certificate as service provider allowed - AT

 

Quick Updates:Latest Updates