https://www.taxtmi.com/caselaws?id=269516 The Tribunal ruled that the amount received on account of Clean Development Mechanism (CDM) is a capital receipt, overturning the Commissioner of Income Tax (Appeals) decision and allowing the appeal. The Tribunal emphasized that carbon credits, including those from CDM, are not generated through business activities but are earned due to environmental concerns and international agreements. They concluded that such receipts are akin to capital receipts, not business income, aligning with previous judicial interpretations. The decision clarified the nature of CDM receipts as capital, highlighting their non-business origin. en-us Mon, 18 Aug 2014 00:00:00 +0530 Tue, 15 Dec 2015 22:36:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269516 The Tribunal ruled that the amount received on account of Clean Development Mechanism (CDM) is a capital receipt, overturning the Commissioner of Income Tax (Appeals) decision and allowing the appeal. The Tribunal emphasized that carbon credits, including those from CDM, are not generated through business activities but are earned due to environmental concerns and international agreements. They concluded that such receipts are akin to capital receipts, not business income, aligning with previous judicial interpretations. The decision clarified the nature of CDM receipts as capital, highlighting their non-business origin. Case-Laws Income Tax Mon, 18 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269516