https://www.taxtmi.com/caselaws?id=262193 The Appellate Tribunal ITAT Chennai allowed the appeals of the assessees, holding that clean development mechanism receipts from the sale of carbon credits are capital in nature and not revenue receipts for the assessment year 2009-10. The Tribunal determined that the receipts were not directly linked to the business activities but arose from environmental concerns, thus classifying them as capital receipts. This decision was based on the precedent set by the Hon'ble Andhra Pradesh High Court in a similar case. The Tribunal overturned the orders of the lower authorities and ruled in favor of the assessees on this issue. en-us Thu, 31 Jul 2014 00:00:00 +0530 Tue, 04 Aug 2015 14:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262193 The Appellate Tribunal ITAT Chennai allowed the appeals of the assessees, holding that clean development mechanism receipts from the sale of carbon credits are capital in nature and not revenue receipts for the assessment year 2009-10. The Tribunal determined that the receipts were not directly linked to the business activities but arose from environmental concerns, thus classifying them as capital receipts. This decision was based on the precedent set by the Hon'ble Andhra Pradesh High Court in a similar case. The Tribunal overturned the orders of the lower authorities and ruled in favor of the assessees on this issue. Case-Laws Income Tax Thu, 31 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262193