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TMI Blog2017 (10) TMI 1560X X X X Extracts X X X X X X X X Extracts X X X X ..... siness but offshoot of environmental concerns. Consequently, the sale of the excess Carbon Credits was capital receipt. It was a submission that the AO may be directed to assess the benefit of Carbon Credits as a capital receipt. Respectfully following the decision of the Hon ble Andhra Pradesh High Court in the case of My Home Power Ltd., referred to supra, the AO is directed to treat the sale ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... firming the action of the AO in disallowing the assessee s claim of deduction u/s.80IA in respect of the profits derived from the sale of Carbon Emission Reduction (CER) also known as Carbon Credits. It was submitted by the Ld.AR that the assessee is in the business of generation of electricity and the assessee had claimed deduction u/s.80IA in respect of the profits derived from the sale of the C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee s appeal. 4. In reply, the Ld.DR vehemently supported the order of the AO and the Ld.CIT(A). 5. We have considered the rival submissions. As it is noticed that the decision of the Hon ble Andhra Pradesh High Court in the case of My Home Power Ltd., is only decision on the issue by the Hon ble High Court and the Revenue has not been able to place before us any other contrary dec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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