Is the sale of Carbon Credit considered revenue or capital in nature? ITAT elucidates
Income Tax Appellate Tribunal (ITAT), Mumbai: While deciding the instant appeal wherein a major issue that came before Tribunal was whether receipts
Capital receipt
Purpose of grant is to be seen to ascertain it as a capital or revenue receipt
Calcutta High Court: A Division Bench comprising of Sanjib Banerjee and Abhijit Gangopadhyay, JJ. held that the subsidy allowed by the State