https://www.taxtmi.com/caselaws?id=339305 The High Court admitted the appeal on specific questions while upholding the Tribunal's decisions on certain issues. The Tribunal deemed the sales tax exemption benefit for A.Y. 2008-09 as a capital receipt not subject to income tax. It partially allowed the respondent assessee's appeal on disallowance of interest and other expenses for earning exempt income under Section 14A of the Act. The issue of ESOP expenses' allowability was referred back to the Assessing Officer. The receipt from Certified Emission Reduction (CER) was characterized as a capital receipt. en-us Tue, 14 Feb 2017 00:00:00 +0530 Thu, 04 Oct 2018 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339305 The High Court admitted the appeal on specific questions while upholding the Tribunal's decisions on certain issues. The Tribunal deemed the sales tax exemption benefit for A.Y. 2008-09 as a capital receipt not subject to income tax. It partially allowed the respondent assessee's appeal on disallowance of interest and other expenses for earning exempt income under Section 14A of the Act. The issue of ESOP expenses' allowability was referred back to the Assessing Officer. The receipt from Certified Emission Reduction (CER) was characterized as a capital receipt. Case-Laws Income Tax Tue, 14 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339305