SUBHASH KABINI POWER CORPORATION LIMITED vs COMMISSIONER OF INCOME TAX
Whether the Commissioner of Income Tax was justified in invoking revisionary powers under section 263 to set aside the assessment order on the ground that income from sale of carbon credits was erroneously allowed as deduction under section 80IA --- Held No, as the receipt from sale of carbon credits is a capital receipt not chargeable to tax, thus causing no prejudice to the Revenue.
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