https://www.taxtmi.com/caselaws?id=758956 The Gujarat HC dismissed the appeal, upholding the Tribunal's decision on two issues. First, regarding carbon credit receipts, the court affirmed the Tribunal's treatment of Carbon Emission Reduction (CER) sale proceeds as capital receipts, following its earlier precedent in Gujarat Flurochemicals Ltd. Second, concerning Section 14A disallowance, the court upheld the exclusion of foreign investments from Rule 8D computation, as dividends from such investments were taxable, following the Suzlon Energy Ltd precedent. The court found no substantial questions of law arising from the Tribunal's order. en-us Tue, 10 Sep 2024 00:00:00 +0530 Sat, 21 Sep 2024 07:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758956 The Gujarat HC dismissed the appeal, upholding the Tribunal's decision on two issues. First, regarding carbon credit receipts, the court affirmed the Tribunal's treatment of Carbon Emission Reduction (CER) sale proceeds as capital receipts, following its earlier precedent in Gujarat Flurochemicals Ltd. Second, concerning Section 14A disallowance, the court upheld the exclusion of foreign investments from Rule 8D computation, as dividends from such investments were taxable, following the Suzlon Energy Ltd precedent. The court found no substantial questions of law arising from the Tribunal's order. Case-Laws Income Tax Tue, 10 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758956