https://www.taxtmi.com/caselaws?id=248178 HC held that sale of carbon credits constitutes a capital receipt, not business income. The court agreed with the Tribunal that carbon credits arise from environmental considerations rather than from the taxpayer's business operations; no asset is generated in the ordinary course of business nor are credits directly linked to power generation. Accordingly, proceeds from sale of excess carbon credits were treated as capital receipts, not taxable as business income, and the appeal by the revenue was dismissed. en-us Wed, 19 Feb 2014 00:00:00 +0530 Thu, 18 Sep 2025 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248178 HC held that sale of carbon credits constitutes a capital receipt, not business income. The court agreed with the Tribunal that carbon credits arise from environmental considerations rather than from the taxpayer's business operations; no asset is generated in the ordinary course of business nor are credits directly linked to power generation. Accordingly, proceeds from sale of excess carbon credits were treated as capital receipts, not taxable as business income, and the appeal by the revenue was dismissed. Case-Laws Income Tax Wed, 19 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248178