2017 (10) TMI 1560

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....IT ORDER GEORGE MATHAN, JJ. ITA No.1321/Mds/2017 is an appeal filed by the assessee against the Order of the Commissioner of Income Tax (Appeals)-8, Chennai, in ITA No.35/2013-14 dated 22.03.2017 for the AY 2010-11. 2. Mrs.Vijayalakshmi, CIT, represented on behalf of the Revenue and Mr.R.Vijayaraghavan, Adv., represented on behalf of the assessee. 3. At the time of hearing, it was subm....

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....'ble Andhra Pradesh High Court in the case of My Home Power Ltd., reported in 365 ITR 82 (AP). It was a submission that as per the decision of the Hon'ble Andhra Pradesh High Court, the Carbon Credits was not an offshoot of business but offshoot of environmental concerns. Consequently, the sale of the excess Carbon Credits was capital receipt. It was a submission that the AO may be directed to ass....