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Revenue generated from sale of carbon credit is capital receipt not liable to tax: HC

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  • Revenue generated from sale of carbon credit is capital receipt not liable to tax: HC
Posted onon June 25, 2016

Tenet Tax Daily June 23 2016

By tenettax-team
Corporate Tax

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Sum received by US Co. for services in connection with prospecting for mineral oils is taxable u/s 44BB
Cash paid to commission agent for facilitating transaction with framers won’t attract sec. 40A(3) disallowance

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