https://www.taxtmi.com/caselaws?id=400419 The Tribunal allowed the appeals for AY 2013-14 and AY 2014-15. For AY 2013-14, SPV charges were permitted as deductible, except for Rs. 1,84,075/- due to lack of details, and carbon credit receipts were excluded from Book Profit under MAT. For AY 2014-15, both SPV and R&R expenses were allowed as deductible, and carbon credit receipts were also excluded from Book Profit. The Tribunal found these expenses necessary for business operations and not penal in nature, aligning with Supreme Court mandates and relevant case law. en-us Wed, 04 Nov 2020 00:00:00 +0530 Tue, 05 Nov 2024 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400419 The Tribunal allowed the appeals for AY 2013-14 and AY 2014-15. For AY 2013-14, SPV charges were permitted as deductible, except for Rs. 1,84,075/- due to lack of details, and carbon credit receipts were excluded from Book Profit under MAT. For AY 2014-15, both SPV and R&R expenses were allowed as deductible, and carbon credit receipts were also excluded from Book Profit. The Tribunal found these expenses necessary for business operations and not penal in nature, aligning with Supreme Court mandates and relevant case law. Case-Laws Income Tax Wed, 04 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400419