https://www.taxtmi.com/caselaws?id=419615 The Tribunal allowed the appeal of the assessee concerning the deduction claimed on account of carbon credit receipts under Section 80IA of the Income Tax Act. The Tribunal held that the receipts from carbon credits should be treated as capital receipts and not taxable, based on various judicial precedents. Consequently, the orders of the lower authorities were reversed, and the appeal of the assessee on this issue was allowed. As the Tribunal ruled in favor of the assessee on the merits of the carbon credit issue, the jurisdictional issue of reopening the assessment was not adjudicated and was dismissed as academic. en-us Fri, 04 Mar 2022 00:00:00 +0530 Tue, 15 Mar 2022 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419615 The Tribunal allowed the appeal of the assessee concerning the deduction claimed on account of carbon credit receipts under Section 80IA of the Income Tax Act. The Tribunal held that the receipts from carbon credits should be treated as capital receipts and not taxable, based on various judicial precedents. Consequently, the orders of the lower authorities were reversed, and the appeal of the assessee on this issue was allowed. As the Tribunal ruled in favor of the assessee on the merits of the carbon credit issue, the jurisdictional issue of reopening the assessment was not adjudicated and was dismissed as academic. Case-Laws Income Tax Fri, 04 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419615