Carbon Credits entitlement is capital receipt & can’t be taxed as a revenue receipt

IN THE ITAT HYDERABAD BENCH ‘B’ My Home Power Ltd. Versus Deputy Commissioner of Income-tax, Central Circle – 7 IT APPEAL NO. 1114 (HYD.) OF 2009 [ASSESSMENT YEAR 2007-08] NOVEMBER 2, 2012 ORDER Chandra Poojari, Accountant Member This appeal by the assessee is directed against the order of the CIT(A)-I, Hyderabad dated 15th October, 2009 for assessment year 2007-08. 2. The assessee raised the following grounds of appeal:  1.  The order of the learned CIT(A) is erroneous both on facts and in law.  2.  The learned CIT(A) erred in finalising the appeal witho...