https://www.taxtmi.com/caselaws?id=268246 The Tribunal ruled that income from the sale of carbon credits should be treated as a capital receipt, not subject to taxation. Therefore, the receipts were not eligible for deduction under section 80-IA of the Income-tax Act, 1961. The appeal of the assessee was allowed, with the Tribunal holding that the carbon credit receipts were not taxable as revenue but as capital receipts due to their nature as an environmental entitlement rather than a result of business activities. en-us Fri, 19 Jun 2015 00:00:00 +0530 Mon, 23 Nov 2015 03:55:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268246 The Tribunal ruled that income from the sale of carbon credits should be treated as a capital receipt, not subject to taxation. Therefore, the receipts were not eligible for deduction under section 80-IA of the Income-tax Act, 1961. The appeal of the assessee was allowed, with the Tribunal holding that the carbon credit receipts were not taxable as revenue but as capital receipts due to their nature as an environmental entitlement rather than a result of business activities. Case-Laws Income Tax Fri, 19 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268246