2019 (11) TMI 1682

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....e addition of Rs. 31,003 /- in the hands of the assessee. 2] The learned CIT (A) failed to appreciate that the amount received by the assessee on sale of Certified Emission Reduction / Carbon Credit was a capital receipt in the hands of the assessee which was not taxable at all. 3] The learned CIT(A) erred in holding that the amount received on sale of Certified Emission Reduction / Carbon Credit was a benefit derived during the course of the business of the assessee and therefore, the same was taxable u/s 28(iv) r.w.s. 2(24)(vd). 4] The learned CIT(A) failed to appreciate that Certified Emission Reduction / Carbon Credit was received by the assessee on account of environmental concerns and not arising out of the business carried out ....

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....ble Andhra Pradesh High Court was upheld by the Jurisdictional High Court in the case of Pr.CIT vs. M/s. Dodson Lindblom Hydro Power Pvt. Ltd. vide Income Tax Appeal No.1820 of 2016 dated 27.02.2019 and read out the relevant para 3 to 5 of the said judgement (supra). 4. On hearing both the sides and considering the above binding judgement in the case of M/s. Dodson Lindblom Hydro Power Pvt. Ltd. (supra), we find relevant to extract the operational para 3 to 5 of the said judgement (supra) and the same are as under :- "3 Income Tax Appeal No.1820 of 2016 relates to Assessment Year 2007- 2008. Revenue has urged the following questions for our consideration :- (i) Whether on the facts and in the circumstances of the case and in law, the Ho....