Entitlement earned for Carbon Credits is a Capital Receipt, can’t be taxed as Revenue Receipt: ITAT

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that The entitlement earned for carbon credits is a capital receipt and cannot be taxed as a revenue receipt. The assessee, M/s. Bhoruka Power Corporation Ltd. is a company engaged in the business of generation of hydro and wind power. The assessee was entitled to claim […]

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