https://www.taxtmi.com/caselaws?id=249143 The Tribunal allowed the appeal of the assessee, setting aside the CIT's order passed under section 263. It held that the assessment order was not erroneous or prejudicial to the interests of the revenue. The Tribunal found that the gains from the sale of Carbon Emission Reduction Certificates were capital receipts and not taxable, contrary to the CIT's position. The reimbursement of taxes by AP Transco was also excluded from the computation of income under section 115JB, following previous rulings. en-us Fri, 20 Jun 2014 00:00:00 +0530 Tue, 17 Mar 2015 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249143 The Tribunal allowed the appeal of the assessee, setting aside the CIT's order passed under section 263. It held that the assessment order was not erroneous or prejudicial to the interests of the revenue. The Tribunal found that the gains from the sale of Carbon Emission Reduction Certificates were capital receipts and not taxable, contrary to the CIT's position. The reimbursement of taxes by AP Transco was also excluded from the computation of income under section 115JB, following previous rulings. Case-Laws Income Tax Fri, 20 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249143