https://www.taxtmi.com/caselaws?id=380812 The Tribunal ruled in favor of the assessee regarding the taxability of carbon credit receipts, deeming them as capital receipts and not taxable for the relevant assessment years. However, the Tribunal sided with the Revenue on the disallowance under Section 14A read with Rule 8D, restoring the disallowance made by the Assessing Officer. Additionally, the Tribunal upheld the CIT(A)'s decision to allow the remaining 50% of additional depreciation in the subsequent year, emphasizing the legislative intent to incentivize industrialization. en-us Fri, 10 May 2019 00:00:00 +0530 Wed, 29 May 2019 08:12:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380812 The Tribunal ruled in favor of the assessee regarding the taxability of carbon credit receipts, deeming them as capital receipts and not taxable for the relevant assessment years. However, the Tribunal sided with the Revenue on the disallowance under Section 14A read with Rule 8D, restoring the disallowance made by the Assessing Officer. Additionally, the Tribunal upheld the CIT(A)'s decision to allow the remaining 50% of additional depreciation in the subsequent year, emphasizing the legislative intent to incentivize industrialization. Case-Laws Income Tax Fri, 10 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380812