https://www.taxtmi.com/caselaws?id=262683 The Tribunal upheld the Commissioner's decision allowing the deduction claimed by the assessee without setting off losses from previous years in the windmill business. Additionally, the Tribunal ruled that income from the sale of carbon credits is capital in nature, dismissing the Revenue's argument that it should be considered business income. Consequently, the Revenue's appeal was dismissed based on these findings. en-us Fri, 30 Jan 2015 00:00:00 +0530 Tue, 04 Aug 2015 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262683 The Tribunal upheld the Commissioner's decision allowing the deduction claimed by the assessee without setting off losses from previous years in the windmill business. Additionally, the Tribunal ruled that income from the sale of carbon credits is capital in nature, dismissing the Revenue's argument that it should be considered business income. Consequently, the Revenue's appeal was dismissed based on these findings. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262683