https://www.taxtmi.com/caselaws?id=409555 The court ruled in favor of the assessee, determining that the Clean Development Mechanism (CDM) receipts should be treated as capital receipts and not taxable. The court referenced various legal precedents and High Court rulings to support this decision. The appeal by the Revenue was dismissed, and the court remanded the issue of disallowance under Section 14A read with Rule 8D to the Assessing Officer for further consideration. The court also noted that one of the substantial questions of law was not pressed by the assessee. en-us Thu, 08 Jul 2021 00:00:00 +0530 Sat, 10 Jul 2021 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409555 The court ruled in favor of the assessee, determining that the Clean Development Mechanism (CDM) receipts should be treated as capital receipts and not taxable. The court referenced various legal precedents and High Court rulings to support this decision. The appeal by the Revenue was dismissed, and the court remanded the issue of disallowance under Section 14A read with Rule 8D to the Assessing Officer for further consideration. The court also noted that one of the substantial questions of law was not pressed by the assessee. Case-Laws Income Tax Thu, 08 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409555