2019 (4) TMI 1034

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..... several High Courts starting from the judgment of Andhra Pradesh High Court in the case of Commissioner of Income Tax v/s. My Home Power Ltd reported [ 2014 (6) TMI 82 - ANDHRA PRADESH HIGH COURT] holding the receipts to be capital in nature. This was further elaborated by the Division Bench of Karnataka High Court in the case of Commissioner of Income Tax v/s. Subhash Kabini Power Corpor .....

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..... s is also common. We may refer to facts from Income Tax Appeal No.1820 of 2016. 3 Income Tax Appeal No.1820 of 2016 relates to Assessment Year 2007 2008. Revenue has urged the following questions for our consideration : (i) Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT, is correct in holding that sale of carbon credit is to be considered as Capit .....

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..... mmissioner of Income Tax v/s. My Home Power Ltd reported in (2014) 365 ITR 82 (AP) holding the receipts to be capital in nature. This was further elaborated by the Division Bench of Karnataka High Court in the case of Commissioner of Income Tax v/s. Subhash Kabini Power Corporation Ltd. reported in (2016) 385 ITR 592 (Karn) and followed by Allahabad High Court and Rajasthan High Court, (A .....

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