ITAT Allows 80-IA Relief on Carbon Credits & Deletes Creditor Write-Back Addition

DCIT Vs JSW Steel Limited JSW Centre (ITAT Mumbai) Infrastructure deductions, interest-free fund disallowance relief and consistent capital receipt treatment was allowable as deduction Conclusion: For deduction on carbon credits, Section 80-IA deduction on the sale of CERs must be allowed; gains from the prepayment of deferred sales tax constituted capital receipts, meaning Commissioner’s relief required no interference. Regarding deduction of Creditor Write-Back Tax, based on the rule of consistency and identical relief granted by the ITAT in assessee’s prior assessment periods, addition ...