PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL)-3 vs. A. D. HYDRO POWER LTD

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ITA - 372 / 2023HC Delhi04 March 20242 pages
For Petitioner: ABHISHEK
AI SummaryPartly Allowed

What did the High Court hold?

The Delhi High Court admitted the appeals on the question of whether the sale of carbon credit amounts to a capital receipt. The appeals were listed for further hearing.

What were the facts?

The appeals were filed by the Principal Commissioner of Income Tax against A.D. Hydro Power Ltd. The core issue revolved around the taxability of carbon credit sales.

What were the issues?

The key legal issue was whether the income derived from the sale of carbon credits should be treated as a capital receipt or a revenue receipt for tax purposes.

AI-generated summary — verify with the full judgment below

$~26 to 30 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 372/2023 PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL)-3

..... Appellant

Through: Mr. Abhishek Maratha and Mr. Parth Semwal, Ms. Nupur Sharma, Advs. for Income Tax.

versus

A. D. HYDRO POWER LTD

..... Respondent

Through: Appearance not given 27 + ITA 373/2023 PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL)- 3

..... Appellant

Through: Mr. Abhishek Maratha and Mr. Parth Semwal, Ms. Nupur Sharma, Advs. for Income Tax.

versus

A. D. HYDRO POWER LTD

..... Respondent

Through: Appearance not given 28 + ITA 374/2023 PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) -3

..... Appellant

Through: Mr. Abhishek Maratha and Mr. Parth Semwal, Ms. Nupur Sharma, Advs. for Income Tax.

versus

M/S A. D. HYDRO POWER LTD

..... Respondent

Through: Appearance not given 29 + ITA 375/2023 PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL)- 3

..... Appellant

Through: Mr. Abhishek Maratha and Mr. Parth Semwal, Ms. Nupur Sharma, Advs. for Income Tax. This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/03/2026 at 13:10:43

versus

A. D. HYDRO POWER LTD

..... Respondent

Through: Appearance not given 30 + ITA 376/2023 PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL)- 3

..... Appellant

Through: Mr. Abhishek Maratha and Mr. Parth Semwal, Ms. Nupur Sharma, Advs. for Income Tax.

versus

M /S A. D. HYDRO POWER LTD ..... Respondent

Through: Appearance not given

CORAM:

HON'BLE MR. JUSTICE YASHWANT VARMA

HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV

O R D E R %

04.03.2024

Since we have already admitted ITA 1057/2018 on question no.1 pertaining to sale of Carbon Credit and whether it would amount to a Capital Receipt, we admit the instant appeals also on the same question. Consequently, list again on 27.05.2024 along with ITA 1057/2018.

YASHWANT VARMA, J.

PURUSHAINDRA KUMAR KAURAV, J. MARCH 04, 2024/neha

This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/03/2026 at 13:10:43

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