https://www.taxtmi.com/caselaws?id=177137 The assessee appealed against the exclusion of receipts from trading of carbon credit and insurance claim while computing the deduction under sec.80IA. The Hon'ble Andhra Pradesh HC held that income from the sale of excess carbon credit is a capital receipt, not business income. The ITAT Chennai followed this judgment and excluded carbon credit receipts. The Tribunal decided in favor of the assessee, holding that receipts from the sale of excess carbon credit are capital receipts. The issue of notional carry forward of depreciation for sec.80IA deduction was partially allowed for the assessee and dismissed for the Revenue based on relevant legal precedents. en-us Thu, 31 Jul 2014 00:00:00 +0530 Mon, 04 Jan 2016 12:57:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177137 The assessee appealed against the exclusion of receipts from trading of carbon credit and insurance claim while computing the deduction under sec.80IA. The Hon'ble Andhra Pradesh HC held that income from the sale of excess carbon credit is a capital receipt, not business income. The ITAT Chennai followed this judgment and excluded carbon credit receipts. The Tribunal decided in favor of the assessee, holding that receipts from the sale of excess carbon credit are capital receipts. The issue of notional carry forward of depreciation for sec.80IA deduction was partially allowed for the assessee and dismissed for the Revenue based on relevant legal precedents. Case-Laws Income Tax Thu, 31 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177137