https://www.taxtmi.com/caselaws?id=247626 Carbon credits generated from environmental improvement were treated as a capital receipt, not as business income or taxable revenue income, because they arose from an entitlement linked to environmental concerns rather than from the assessee's trading operations. The Tribunal followed its earlier ruling in the assessee's own case, as confirmed by the jurisdictional High Court, and held that CERs had no element of profit or gain and no attributable cost of acquisition. The addition was therefore deleted and the tax treatment as exempt from income tax was upheld. en-us Wed, 07 May 2014 00:00:00 +0530 Fri, 13 Mar 2015 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247626 Carbon credits generated from environmental improvement were treated as a capital receipt, not as business income or taxable revenue income, because they arose from an entitlement linked to environmental concerns rather than from the assessee's trading operations. The Tribunal followed its earlier ruling in the assessee's own case, as confirmed by the jurisdictional High Court, and held that CERs had no element of profit or gain and no attributable cost of acquisition. The addition was therefore deleted and the tax treatment as exempt from income tax was upheld. Case-Laws Income Tax Wed, 07 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247626