CIT v. My Home Power Ltd.

365 ITR 82High Court2014#846 most cited

What is CIT v. My Home Power Ltd. authority for?

Receipts from the sale of carbon credits are capital receipts, not business income, as they arise from environmental concerns and not from business operations. Such receipts are not taxable under Sections 2(24), 28, 45, or 56 of the Act, especially prior to the introduction of Section 115BBG.

123

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. My Home Power Ltd. · My Home Power Ltd. carbon credits · carbon credit taxability · capital receipt carbon credits · business income carbon credits · Section 2(24) · 28 · 45 · 56 · Section 115BBG prospective · environmental concerns receipts · not taxable carbon credits · Andhra Pradesh High Court carbon credits

Also reported as

46 Taxmann.com 314225 Taxmann 8

Sections most often in play

Section 1961Section 143(3)Section 14ASection 2(24)Section 80IASection 115BBGSection 115JBSection 2003)

Issues it is cited on

safe harbour rulessection 72asection 32(2)preliminary expensessection 43(6)safe harboursection 28(iv)section 43aactual payment basisadditional depreciationsection 32(1)(iia)section 72

Judgments citing CIT v. My Home Power Ltd.

DCM SHRIRAM INDUSTRIS LTD,NEW DELHI vs. DCIT CIRCLE-7(1), NEW DELHI

In the result, the appeal filed by the assessee is allowed in above terms

ITA 2166/DEL/2022[2018-19]Status: DisposedITAT Delhi18 Mar 2026AY 2018-19

Bench: Shri Challa Nagemdra Prasad & Shri S. Rifaur Rahman

Section 115JSection 143(3)Section 144C(10)Section 14ASection 80Section 92C

…ITA No. 2166/Del/2022 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’: NEW DELHI BEFORE SHRI CHALLA NAGEMDRA PRASAD, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No.2166 /Del./2022, A.Y. 2018-19 DCM Shri Ram Industries Ltd. Vs. DCIT, 6th Floor Kanchenjunga Building 18 Circle-7(1) Barkhamba Road, New Delhi New Delhi PAN: AAACD0204C (Appellant) (Respondent) Assessee by Shri Pradeep Dinodia, CA Shri Ravi Kumar, CA & Ms. Shruti Gupta, CA Revenue by Ms. Anima Barnwal, CIT DR Date of Hearing 10/02/2026 Date of Pronouncement 18/03/2026 ORDER PER S. RIFAUR RAHMAN, AM This appeal has been filed…

DCIT CIRCLE 1(2)(1), MUMBAI, MUMBAI vs. MSPL LTD, MUMBAI

ITA 5433/MUM/2025[2011-12]Status: DisposedITAT Mumbai28 Jan 2026AY 2011-12

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI MAKARAND VASANT MAHADEOKAR (Accountant Member)

Section 143(3)Section 147

…, and a consistent and well-settled judicial view has emerged that such receipts are capital in nature and do not partake the character of business income. 5. The Hon’ble Andhra Pradesh High Court, in the landmark decision of CIT v. My Home Power Ltd. [(2014) 365 ITR 82 (AP)], after undertaking a detailed analysis of the genesis and character of carbon credits, held that carbon credits are not generated as a result of carrying on business operations, but accrue on account of environmental concerns and international 4 MSPL Ltd., regulatory mechanisms aimed at reduction of carbon emissions. The Hon’ble High Court…

FRIENDS SALT WORKS AND ALLIED INDUSTRIES,GANDHIDHAM vs. ACIT, CIRCLE-1, GANDHIDHAM, GANDHIDHAM

In the result, the appeal of the assessee is partly allowed, in above terms

ITA 169/RJT/2024[2017-18]Status: DisposedITAT Rajkot02 Jan 2026AY 2017-18

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Puglia, Ld. (CIT) DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकरअपीलसं./ITA No. 99/Rjt/2023 & 169/Rjt/2024 Assessment Year: (2015-16 & 2017-18) Friends Salt Works And Allied Vs. ACIT, Circle-1, Gandhidham Industries Plot No. 20a, Sector-8, Behind KPT Maitri Bhavan, Plot No. 18, Sector- AO Building, Gandhidham-Kutch 8, Gujarat- 370201 Gujarat - 370201 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAAFF2067N (Appellant) (Respondent) Appellant by : Shri K. C. Thacker, Ld. A.R. Respondent by : Shri Sanjay Puglia, Ld. (CIT) DR Date of Hea…

FRIENDS SALT WORKS & ALLIED INDS.,,GANDHIDHAM vs. THE ADDL. COMMISSIONER OF INCOME TAX, RANGE GANDHIDHAM,, GANDHIDHAM

In the result, the appeal of the assessee is partly allowed, in above terms

ITA 99/RJT/2023[2015-16]Status: DisposedITAT Rajkot02 Jan 2026AY 2015-16

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Puglia, Ld. (CIT) DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकरअपीलसं./ITA No. 99/Rjt/2023 & 169/Rjt/2024 Assessment Year: (2015-16 & 2017-18) Friends Salt Works And Allied Vs. ACIT, Circle-1, Gandhidham Industries Plot No. 20a, Sector-8, Behind KPT Maitri Bhavan, Plot No. 18, Sector- AO Building, Gandhidham-Kutch 8, Gujarat- 370201 Gujarat - 370201 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAAFF2067N (Appellant) (Respondent) Appellant by : Shri K. C. Thacker, Ld. A.R. Respondent by : Shri Sanjay Puglia, Ld. (CIT) DR Date of Hea…

SRF LIMITED,NEW DELHI vs. DCIT, CIRCLE- 1, LTU, NEW DELHI

In the result, the appeal being ITA No

ITA 4539/DEL/2017[2013-14]Status: DisposedITAT Delhi12 Dec 2025AY 2013-14

Bench: Shris.Rifaur Rahman & Shri Sudhir Pareek

For Appellant: Shri Pradeep Dinodia, CAFor Respondent: Shri S.K. Jadhav, CIT DR
Section 10ASection 143(3)Section 144C(5)Section 14ASection 92BSection 92C

…r, ITAT Hyderabad Bench in the case of CIT Vs. My Home Power Ltd. Hyderabad in ITA No. 1114/Hyd/2009 held that carbon credit receipts are capital in nature. This order of ITAT Hyderabad Bench was subsequently upheld by the Hon'ble Andhra Pradesh High Court in 365 ITR 82.” “6.2 Accordingly, respectfully following the ratio of the settled judicial precedent as aforementioned, we allow the additional grounds raised by the assessee and hold that the income from sale of carbon credits is capital in nature.” 5.3 Coming to the judgments relied upon by the AO and the Ld. CIT(A) and which have been further relied by the L…

SRF LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal being ITA No

ITA 80/DEL/2016[2011-12]Status: DisposedITAT Delhi12 Dec 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Sudhir Pareek

For Appellant: Shri Pradeep Dinodia, CAFor Respondent: Shri S.K. Jadhav, CIT DR
Section 10ASection 143(3)Section 144C(5)Section 14ASection 92BSection 92C

…r, ITAT Hyderabad Bench in the case of CIT Vs. My Home Power Ltd. Hyderabad in ITA No. 1114/Hyd/2009 held that carbon credit receipts are capital in nature. This order of ITAT Hyderabad Bench was subsequently upheld by the Hon'ble Andhra Pradesh High Court in 365 ITR 82.” “6.2 Accordingly, respectfully following the ratio of the settled judicial precedent as aforementioned, we allow the additional grounds raised by the assessee and hold that the income from sale of carbon credits is capital in nature.” 5.3 Coming to the judgments relied upon by the AO and the Ld. CIT(A) and which have been further relied by the L…

SHYAM METALICS AMD ENERGY LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 1(1), , KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purpose

ITA 1074/KOL/2025[2014-2015]Status: DisposedITAT Kolkata15 Sept 2025AY 2014-2015

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2014-15 Shyam Metalics & Engery Ltd…...………..............................……….……Appellant 83, Trinity Tower, 7Th Floor, Topsia, Kol-700046, [Pan: Aahcs5842A] Vs. Dcit, Central Circle-1(1), Kolkata…………………………...……...…..…..Respondent Appearances By: Shri Akkal Dudhewala, Ar, Appeared On Behalf Of The Appellant. Shri Praveen Kishore, Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : July 23, 2025 Date Of Pronouncing The Order : September 15, 2025 Order Per Rajesh Kumar: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 08.04.2025 Of The Commissioner Of Income Tax (Appeals)- 22, Kolkata [Hereinafter Referred To As The “Ld. Cit(A)”] Passed U/S 250 Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

Section 250Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA Before Shri Rajesh Kumar, Accountant Member and Shri Pradip Kumar Choubey, Judicial Member Assessment Year: 2014-15 Shyam Metalics And Engery Ltd…...………..............................……….……Appellant 83, Trinity Tower, 7th Floor, Topsia, Kol-700046, [PAN: AAHCS5842A] vs. DCIT, Central Circle-1(1), Kolkata…………………………...……...…..…..Respondent Appearances by: Shri Akkal Dudhewala, AR, appeared on behalf of the appellant. Shri Praveen Kishore, DR, appeared on behalf of the Respondent. Date of concluding the hearing : July 23,…

MAYUR DYECHEM INTERMEDIATES LLP,AHMEDABAD vs. THE DY. CIT, CIRCLE-3(2), AHMEDABAD

In the result, Ground No. 5 of the assessee’s appeal is allowed for statistical purposes

ITA 231/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad18 Jun 2025AY 2017-18

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Shri Tushar Hemani, Sr. Adv. & ShriFor Respondent: Shri Kalpesh Rupavatia, Sr. DR
Section 115BSection 143(1)Section 234BSection 270ASection 40Section 40A(2)Section 80I

…ent, the Counsel for the assessee placed reliance on several judicial decisions, including PCIT v. Gujarat Mayur Dyechem Intermediates LLP vs. DCIT Asst.Year –2017-18 - 4– Fluorochemicals Ltd. [2023] 155 taxmann.com (Gujarat), CIT v. My Home Power Ltd. [2014] 365 ITR 82 (Andhra Pradesh), CIT v. Subhash Kabini Power Corporation Ltd. [2016] 385 ITR 592 (Karnataka), and Essel Mining & Industries Ltd. v. DCIT [2022] SCC Online ITAT 311. The assessee submitted that Section 115BBG, which specifically taxes carbon credits as capital receipts, was introduced into the Statute only prospectively, w.e.f. 01.04.2018, and is…

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, , ELURU vs. THE ANDHRA SUGARS LIMITED, TANUKU

In the result, appeal of the Revenue is dismissed

ITA 380/VIZ/2019[2012-13]Status: DisposedITAT Visakhapatnam09 Jun 2025AY 2012-13

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No. 380/Viz/2019 (धनिाारणिर्ा/ Assessment Year: 2012-13) Assistant Commissioner Of Vs. M/S. Andhra Sugars Ltd., Income Tax, Circle-1, Tanuku. Eluru. Pan: Aaact6357Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) सी.ओ सं. / C.O. No. 140/Viz/2019 [आयक अपील सं. से उत्पन्न / Arising Out Of I.T.A. No. 380/Viz/2019(A.Y. 2012-13)] M/S. Andhra Sugars Ltd., Vs. Assistant Commissioner Of Tanuku. Income Tax, Circle-1, Pan: Aaact6357Q Eluru. अपीलार्थीकीओरसे/ Assessee By : Shri C. Subrahmanyam, Ca प्रत्यार्थीकीओरसे/ Revenue By : Dr.Satyasai Rath, Cit-Dr

For Appellant: Shri C. Subrahmanyam, CAFor Respondent: Dr.Satyasai Rath, CIT-DR
Section 143(2)Section 143(3)Section 14ASection 80I

…आयकरअपीलीयअधिकरण, धिशाखापटणमपीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM “DIVN” BENCH, VISAKHAPATNAM श्रीधिजयपालराि, उपाध्यक्षएिंश्रीएसबालाकृष्णन, लेखासदस्यकेसमक्ष BEFORE SHRI VIJAY PAL RAO, HON’BLE VICE PRESIDENT & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकरअपीलसं./ I.T.A. No. 380/Viz/2019 (धनिाारणिर्ा/ Assessment Year: 2012-13) Assistant Commissioner of Vs. M/s. Andhra Sugars Ltd., Income Tax, Circle-1, Tanuku. Eluru. PAN: AAACT6357Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) सी.ओ सं. / C.O. No. 140/VIZ/2019 [आयक अपील सं. से उत्पन्न / ARISING OUT OF I.T.A. No. 380/VIZ/2019(A…

M/S. JAIPRAKASH POWER VENTURES LTD.,DEHRADUN vs. DCIT, DEHRADUN

ITA 3723/DEL/2013[2009-10]Status: DisposedITAT Dehradun23 May 2025AY 2009-10

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. Dcit, M/S, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun Pan: Aaacj5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/S, Dcit, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun Juit, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh Pan: Aaacj5463 (Appellant) (Respondent) Assessee By Sh. Anil K. Chopra, Ca Sh. Sanjiv Choudhary, Ca Sh. V.K. Garg, Adv. Department By Sh. Amar Pal Singh, Sr. Dr Date Of Hearing 20.03.2025 Date Of Pronouncement 23.05.2025

Section 143(3)Section 801A

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘DB’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER Assessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. DCIT, M/s, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun PAN: AAACJ5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/s, DCIT, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun JUIT, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh PAN: AAACJ5463 (Appellant) (Respondent) Assessee by S…

M/S. JAIPRAKASH POWER VENTURES LTD.,DEHRADUN vs. DCIT, DEHRADUN

ITA 3064/DEL/2013[2007-08]Status: DisposedITAT Dehradun23 May 2025AY 2007-08

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. Dcit, M/S, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun Pan: Aaacj5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/S, Dcit, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun Juit, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh Pan: Aaacj5463 (Appellant) (Respondent) Assessee By Sh. Anil K. Chopra, Ca Sh. Sanjiv Choudhary, Ca Sh. V.K. Garg, Adv. Department By Sh. Amar Pal Singh, Sr. Dr Date Of Hearing 20.03.2025 Date Of Pronouncement 23.05.2025

Section 143(3)Section 801A

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘DB’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER Assessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. DCIT, M/s, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun PAN: AAACJ5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/s, DCIT, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun JUIT, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh PAN: AAACJ5463 (Appellant) (Respondent) Assessee by S…

DCIT, DEHRADUN vs. M/S JAI PRAKASH POWER VENTURE LTD., H.P.

ITA 3929/DEL/2012[2008-09]Status: DisposedITAT Dehradun23 May 2025AY 2008-09

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. Dcit, M/S, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun Pan: Aaacj5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/S, Dcit, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun Juit, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh Pan: Aaacj5463 (Appellant) (Respondent) Assessee By Sh. Anil K. Chopra, Ca Sh. Sanjiv Choudhary, Ca Sh. V.K. Garg, Adv. Department By Sh. Amar Pal Singh, Sr. Dr Date Of Hearing 20.03.2025 Date Of Pronouncement 23.05.2025

Section 143(3)Section 801A

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘DB’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER Assessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. DCIT, M/s, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun PAN: AAACJ5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/s, DCIT, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun JUIT, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh PAN: AAACJ5463 (Appellant) (Respondent) Assessee by S…

M/S. JAIPRAKASH POWER VENTURES LTD.,,H.P. vs. DCIT, DEHRADUN

ITA 3925/DEL/2012[2008-09]Status: DisposedITAT Dehradun23 May 2025AY 2008-09

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. Dcit, M/S, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun Pan: Aaacj5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/S, Dcit, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun Juit, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh Pan: Aaacj5463 (Appellant) (Respondent) Assessee By Sh. Anil K. Chopra, Ca Sh. Sanjiv Choudhary, Ca Sh. V.K. Garg, Adv. Department By Sh. Amar Pal Singh, Sr. Dr Date Of Hearing 20.03.2025 Date Of Pronouncement 23.05.2025

Section 143(3)Section 801A

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘DB’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER Assessment Year: 2007-08 With Assessment Year: 2008-09 With Assessment Year: 2009-10 Vs. DCIT, M/s, Jaiprakash Power Ventures Ltd., Circle-2, 113, Rajpur Road, Dehradun Dehradun PAN: AAACJ5463 (Appellant) (Respondent) With Assessment Year: 2008-09 Vs. M/s, DCIT, Jaiprakash Power Circle-2, Ventures Ltd., Dehradun JUIT, Complex, Waknaghat, Post Office- Dumehar Bani, Kandaghat, Distt. Solan, Himachal Pradesh PAN: AAACJ5463 (Appellant) (Respondent) Assessee by S…

M/S CELERITY POWER ,MUMBAI vs. ACIT, 19(1), MUMBAI

In the result, the appeal by the assessee is allowed

ITA 2234/MUM/2024[2012-13]Status: DisposedITAT Mumbai20 Dec 2024AY 2012-13

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

Section 142(1)Section 143(2)Section 250Section 56Section 80

…coordinate bench of the Tribunal in DCIT v/s M/S. Dwarikesh Sugar Industries Ltd, in ITA No. 312/Mum./2019, wherein the coordinate bench after considering the decision of the Hon'ble Andhra Pradesh High Court in CIT v/s My Home Power Ltd, reported in [2014] 365 ITR 82 (AP), observed as follows: – "7. Considered the submissions of the learned Counsel for both the parties and perused the material on record. While going through the judicial pronouncements relied upon by the learned Counsel for the assessee, we find that the issue for our adjudication is squarely covered by the aforesaid decisions relied upon by t…

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. ITC LIMITED, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1223/KOL/2017[2011-12]Status: DisposedITAT Kolkata10 May 2024AY 2011-12

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “सी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA "ी राजेश कुमार, लेखा सट"य एवं "ी संजय शमा" "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 1068 & 1166/Kol/2017 Assessment Year: 2010-11 & 2011-12 M/s ITC Limited Vs. ACIT, Range-8, Kolkata (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / I.T.A. No. 1222 & 1223/Kol/2017 Assessment Year: 2010-11 & 2011-12 DCIT, Circle-8(1), Kolkata Vs. M/s ITC Limited (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / 14.03.2023 Date o…

DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. ITC LIMITED, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1222/KOL/2017[2010-11]Status: DisposedITAT Kolkata10 May 2024AY 2010-11

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “ए’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA "ी राजेश कुमार, लेखा सट"य एवं "ी संजय शमा" "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 1068 & 1166/Kol/2017 Assessment Year: 2010-11 & 2011-12 M/s ITC Limited Vs. ACIT, Range-8, Kolkata (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / I.T.A. No. 1222 & 1223/Kol/2017 Assessment Year: 2010-11 & 2011-12 DCIT, Circle-8(1), Kolkata Vs. M/s ITC Limited (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / 14.03.2023 Date of…

ITC LIMITED,KOLKATA vs. ACIT, RANGE-8, KOLKATA, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1166/KOL/2017[2011-12]Status: DisposedITAT Kolkata10 May 2024AY 2011-12

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “सी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA "ी राजेश कुमार, लेखा सट"य एवं "ी संजय शमा" "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 1068 & 1166/Kol/2017 Assessment Year: 2010-11 & 2011-12 M/s ITC Limited Vs. ACIT, Range-8, Kolkata (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / I.T.A. No. 1222 & 1223/Kol/2017 Assessment Year: 2010-11 & 2011-12 DCIT, Circle-8(1), Kolkata Vs. M/s ITC Limited (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / 14.03.2023 Date o…

ITC LIMITED,KOLKATA vs. ACIT, RANGE-8, KOLKATA, KOLKATA

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1068/KOL/2017[2010-11]Status: DisposedITAT Kolkata10 May 2024AY 2010-11

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “सी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA "ी राजेश कुमार, लेखा सट"य एवं "ी संजय शमा" "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 1068 & 1166/Kol/2017 Assessment Year: 2010-11 & 2011-12 M/s ITC Limited Vs. ACIT, Range-8, Kolkata (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / I.T.A. No. 1222 & 1223/Kol/2017 Assessment Year: 2010-11 & 2011-12 DCIT, Circle-8(1), Kolkata Vs. M/s ITC Limited (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / 14.03.2023 Date o…

DCIT-2(3)(1), MUMBAI, MUMBAI vs. NAVIN FLUORINE INTERNATIONAL LTD, MUMBAI

In the result, appeals of the Revenue in ITA No

ITA 4105/MUM/2023[2008-09]Status: DisposedITAT Mumbai08 May 2024AY 2008-09

Bench: Shri Pavan Kumar Gadale, Jm & Ms Padmavathy S, Am

For Respondent: Ms. Aarti Vissanji & Amod
Section 143(3)Section 14ASection 158B

…ronment concern the sale proceeds received on sale of CER is a capital receipt not chargeable to tax. Reliance is placed on the following legal decisions: (a) My Home Power Ltd. V/s. DCIT (Hyderabad ITAT) (2012) 81 DTR 173. Note: Affirmed by Hon. High Court (365 ITR 82.) (b) Pr. CIT V/s. Rajasthan State Mines & Minerals Ltd. (Rajsthan High Court) (13.10.2017) (ITA No. 151 of 2016). (c) CIT V/s. Subhash Kabani Power Corporation Ltd. (Karnataka High Court) (2016) 137 DTR 305. (d) Aditya Birla Nuvo Ltd. & ANR V/s. DCIT & ANR (Mumbai ITAT) (2015) 45 CCH 0222. (e) DCIT V/s. Binani Industries Ltd. (Kolkata ITAT) (2016…

DCIT-2(3)(1), MUMBAI, MUMBAI vs. NAVIN FLUORINE INTERNATIONAL LTD, MUMBAI

In the result, appeals of the Revenue in ITA No

ITA 4104/MUM/2023[2009-10]Status: DisposedITAT Mumbai08 May 2024AY 2009-10

Bench: Shri Pavan Kumar Gadale, Jm & Ms Padmavathy S, Am

Section 143(3)Section 14ASection 158B

…ironment concern the sale proceeds received on sale of CER is a capital receipt not chargeable to tax. Reliance is placed on the following legal decisions: (a) My Home Power Ltd. V/s. DCIT (Hyderabad ITAT) (2012) 81 DTR 173. Note: Affirmed by Hon. High Court (365 ITR 82.) (b) Pr. CIT V/s. Rajasthan State Mines & Minerals Ltd. (Rajsthan High Court) (13.10.2017) (ITA No. 151 of 2016). (c) CIT V/s. Subhash Kabani Power Corporation Ltd. (Karnataka High Court) (2016) 137 DTR 305. (d) Aditya Birla Nuvo Ltd. & ANR V/s. DCIT & ANR (Mumbai ITAT) (2015) 45 CCH 0222. (e) DCIT V/s. Binani Industries Ltd. (Kolkata ITAT) (2016…

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CIT v. My Home Power Ltd. (365 ITR 82) — Cited in 123 Judgments | BharatTax