https://www.taxtmi.com/article/detailed?id=5654 Sale proceeds from carbon credits are a capital receipt and not taxable as income under any head; they arise from environmental entitlements rather than business-generated assets. Connection with business activity does not convert such capital receipts into business income. Absent explicit statutory provision treating such proceeds as income, they fall outside the Central Government's constitutional power to tax income, and tribunal and high court findings have affirmed the capital character of carbon-credit receipts. en-us Thu, 05 Jun 2014 09:54:54 +0530 Thu, 05 Jun 2014 09:54:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5654 Sale proceeds from carbon credits are a capital receipt and not taxable as income under any head; they arise from environmental entitlements rather than business-generated assets. Connection with business activity does not convert such capital receipts into business income. Absent explicit statutory provision treating such proceeds as income, they fall outside the Central Government's constitutional power to tax income, and tribunal and high court findings have affirmed the capital character of carbon-credit receipts. Articles Income Tax Thu, 05 Jun 2014 09:54:54 +0530 https://www.taxtmi.com/article/detailed?id=5654