https://www.taxtmi.com/article/detailed?id=1995 The Tribunal held that proceeds from sale of Certified Emission Reductions are derived from an environmental entitlement and, despite accounting guidance treating CERs as inventory, constitute a capital receipt rather than taxable revenue; the characterization rests on source, lack of nexus to ordinary production or reimbursement of revenue/capital expenditure, and precedents treating similar privileges as capital accretions. en-us Thu, 03 Jan 2013 17:54:52 +0530 Thu, 03 Jan 2013 17:54:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1995 The Tribunal held that proceeds from sale of Certified Emission Reductions are derived from an environmental entitlement and, despite accounting guidance treating CERs as inventory, constitute a capital receipt rather than taxable revenue; the characterization rests on source, lack of nexus to ordinary production or reimbursement of revenue/capital expenditure, and precedents treating similar privileges as capital accretions. Articles Income Tax Thu, 03 Jan 2013 17:54:52 +0530 https://www.taxtmi.com/article/detailed?id=1995