Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Sale proceeds of Renewable Energy Certificates received by renewable-energy power generators are treated as capital receipts because the certificates incentivise environmental benefits of renewable generation rather than arise from producing or selling goods or rendering services. They therefore do not constitute business income or profits derived from an eligible power-generation undertaking for deduction purposes. As capital receipts, the proceeds are also excluded from book profit computed for minimum alternate tax purposes under section 115JB. The Revenue's challenge to deletion of the related disallowance and to exclusion from book profit was rejected.
Sale proceeds of Renewable Energy Certificates received by renewable-energy power generators are treated as capital receipts because the certificates incentivise environmental benefits of renewable generation rather than arise from producing or selling goods or rendering services. They therefore do not constitute business income or profits derived from an eligible power-generation undertaking for deduction purposes. As capital receipts, the proceeds are also excluded from book profit computed for minimum alternate tax purposes under section 115JB. The Revenue's challenge to deletion of the related disallowance and to exclusion from book profit was rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
