https://www.taxtmi.com/caselaws?id=266592 The Income Tax Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)' decision, ruling that the income from the sale of carbon credits by the assessee's power division should be treated as capital receipts and not taxable income. The Tribunal emphasized that carbon credits were akin to entitlements received due to global environmental concerns. The decision aligned with a previous High Court ruling and dismissed the Revenue's appeals, affirming that the income from carbon credits was not subject to tax. en-us Wed, 24 Jun 2015 00:00:00 +0530 Thu, 22 Oct 2015 15:04:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266592 The Income Tax Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)' decision, ruling that the income from the sale of carbon credits by the assessee's power division should be treated as capital receipts and not taxable income. The Tribunal emphasized that carbon credits were akin to entitlements received due to global environmental concerns. The decision aligned with a previous High Court ruling and dismissed the Revenue's appeals, affirming that the income from carbon credits was not subject to tax. Case-Laws Income Tax Wed, 24 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266592