https://www.taxtmi.com/caselaws?id=269517 The Tribunal held that the amount received by the assessee on account of Clean Development Mechanism (CDM) was deemed as a capital receipt and not taxable as income. The decision was based on the understanding that carbon credits are not generated from business activities but are received for environmental concerns. Therefore, the Tribunal set aside the lower order and allowed the appeal in favor of the assessee, concluding that the CDM receipts were capital in nature. en-us Mon, 18 Aug 2014 00:00:00 +0530 Tue, 15 Dec 2015 22:36:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269517 The Tribunal held that the amount received by the assessee on account of Clean Development Mechanism (CDM) was deemed as a capital receipt and not taxable as income. The decision was based on the understanding that carbon credits are not generated from business activities but are received for environmental concerns. Therefore, the Tribunal set aside the lower order and allowed the appeal in favor of the assessee, concluding that the CDM receipts were capital in nature. Case-Laws Income Tax Mon, 18 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269517