Carbon credits sale not income for 2012-13; Section 115BBE applies prospectively from April 1, 2018.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Nature of receipts - sale of carbon credits - Carbon credits cannot be considered as an income in the assessment year 2012-13 and insertion of new section 115BBE of the Act, which was introduced from 1.4.2018 is only prospective in nature and cannot be applied to the assessment year 2012-13. - AT....