Carbon Credits is capital receipt not exigible to tax under Normal & MAT

DCIT Vs A.D. Hydro Power Ltd. (ITAT Delhi)

ITAT held that Carbon Credits is capital receipt not exigible to tax under normal provisions of the Act and also while computing the book profits under Section 115JB of Income Tax Act, 1961.

FULL TEXT OF THE ORDER OF ITAT DELHI

1. These appeals are filed by the Revenue against the common order of the ld. Commissioner of Income Tax (Appeals)-30 {hereinafter referred to CIT (Appeals)] New Delhi, dated 30.04.2019 for assessment years 2013-14 to 2017-18.

2. In all these appeals the following common grounds of appeal have been raised by the Revenue:-

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