Carbon Credits (Certified Emission Reductions) - It is not ...

Carbon credits, specifically Certified Emission Reductions, are tax-exempt for the specified assessment year u/ss 2(24), 28, 45, and 56.

November 8, 2012

Case Laws Income Tax AT

Carbon Credits (Certified Emission Reductions) - It is not liable for tax for the assessment year under consideration in terms of sections 2(24), 28, 45 and 56 of the Income-tax Act, 1961. - AT

View Source

← Previous Next →

Carbon Credits (Certified Emission Reductions) - It is not ...

Carbon credits, specifically Certified Emission Reductions, are tax-exempt for the specified assessment year u/ss 2(24), 28, 45, and 56.

November 8, 2012

Case Laws Income Tax AT

You may also like:

CENVAT Credit - input service - “success fee” payable against the sale of Certified Emission Reduction - whether the appellants are entitled to service tax credit on...

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

Management or Business Consultant Service - assistance in implementing Clean Development Mechanism (CDM) - sale and management of certified emission reduction...

Deduction u/s 80-IA - the income on sale of certified emission reduction/carbon credit would form part of the profit and gains of business ; however, cannot be treated...

Nature of Receipts - AO directed to treat the Proceeds realized from sale of Certified Emission Reduction (CERs) generated out of Capital Projects registered with UNFCCC...

CENVAT Credit - trading activities - Rule 6 of CENVAT Credit Rules, 2004 deals solely with the situation of CENVAT Credit resulting from exempted services and exempted...

Profiteering - restaurant service - reduction in rate of GST - every recipient/ customer is entitled to the benefit of the tax rate reduction by way of reduced prices...

Advance Ruling application on maintainability - Reversal of input tax credit to extent of tax element in credit note - no agreement between parties on credit notes not...

The High Court held that Section 17(2) of the CGST Act is not ultra vires Article 14 of the Constitution to the extent it restricts refund under the inverted duty...

The Central Government, based on recommendations from the Goods and Services Tax Council, will cease accepting requests from the Competition Commission of India or...

CENVAT Credit - exempt goods - On merits, it is a case that the appellant is manufacturing dutiable goods not exempted goods. Some clearances were exempted from payment...

GST Council recommends GST rates reduction on several goods & for specified handicraft items

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...

Reversal of cenvat credit - It is now a settled proposition that reversal of cenvat credit even after manufacture of the goods and/or clearance thereof amounts to not...

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...

Quick Updates: