https://www.taxtmi.com/caselaws?id=405114 The Madras High Court held that the proceeds from the sale of Certified Emission Reduction Credit (Carbon Credits) are a capital receipt and not taxable, based on precedents and legal principles. The court dismissed the Revenue's appeal, citing previous judgments and emphasizing that income from carbon credits is not business income but a capital receipt. The court also remanded certain issues for fresh consideration by the Assessing Officer and noted that relief had already been granted on another issue. en-us Mon, 08 Mar 2021 00:00:00 +0530 Mon, 17 May 2021 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405114 The Madras High Court held that the proceeds from the sale of Certified Emission Reduction Credit (Carbon Credits) are a capital receipt and not taxable, based on precedents and legal principles. The court dismissed the Revenue's appeal, citing previous judgments and emphasizing that income from carbon credits is not business income but a capital receipt. The court also remanded certain issues for fresh consideration by the Assessing Officer and noted that relief had already been granted on another issue. Case-Laws Income Tax Mon, 08 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405114