In respect of the carbon credit amount being wrongly recorded as income, the assessee submitted before the CIT(A) that it could not get the credit certified from the concerned authority during the assessment proceedings and accordingly the management created a provision at the year-end which increased the net profit and closing stock by the amount. The certification report and calculation of carbon credits were placed before the CIT(A) and he deleted this addition. The Tribunal held, that the assessee admitted that the provision of carbon credits was inadvertently included in the taxable income of the assessee, though it was not taxable under the Act. Besides no sale of carbon credits took place during the year under consideration. The calculation of provision, the basis therefor and the certification report were verified by the Assessing Officer.  (AY.  2011-12).