https://www.taxtmi.com/caselaws?id=418507 The Tribunal ruled in favor of the assessee, determining that receipts from the transfer of Carbon Emission Reductions (CERs) are capital receipts not subject to taxation under section 28(iv) of the Income Tax Act. Additionally, the Tribunal held that CER receipts should be classified as capital in nature, excluding them from 'book profits' computation under section 115JB. Furthermore, the Tribunal allowed the deduction of 'Education Cess' under section 37 of the Income Tax Act. The decision was rendered on 07.02.2022. en-us Mon, 07 Feb 2022 00:00:00 +0530 Thu, 17 Feb 2022 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418507 The Tribunal ruled in favor of the assessee, determining that receipts from the transfer of Carbon Emission Reductions (CERs) are capital receipts not subject to taxation under section 28(iv) of the Income Tax Act. Additionally, the Tribunal held that CER receipts should be classified as capital in nature, excluding them from 'book profits' computation under section 115JB. Furthermore, the Tribunal allowed the deduction of 'Education Cess' under section 37 of the Income Tax Act. The decision was rendered on 07.02.2022. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418507