https://www.taxtmi.com/caselaws?id=284890 The Tribunal ruled in favor of the assessee, holding that income from the sale of carbon credits is a capital receipt not liable to tax. The Tribunal referenced precedents supporting this view and allowed the additional grounds raised by the assessee. Additionally, the Tribunal upheld the deletion of disallowance under Section 14A, dismissed the department's appeal on this issue, and remanded the disallowance of common expenses for fresh examination. Furthermore, the Tribunal excluded income from the sale of carbon credits from book profits under Section 115JB, allowing the assessee's appeals for the relevant assessment years. en-us Fri, 27 Apr 2018 00:00:00 +0530 Mon, 16 Dec 2019 09:52:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284890 The Tribunal ruled in favor of the assessee, holding that income from the sale of carbon credits is a capital receipt not liable to tax. The Tribunal referenced precedents supporting this view and allowed the additional grounds raised by the assessee. Additionally, the Tribunal upheld the deletion of disallowance under Section 14A, dismissed the department's appeal on this issue, and remanded the disallowance of common expenses for fresh examination. Furthermore, the Tribunal excluded income from the sale of carbon credits from book profits under Section 115JB, allowing the assessee's appeals for the relevant assessment years. Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284890