https://www.taxtmi.com/caselaws?id=412031 The court dismissed the Revenue's appeal, affirming that the proceeds from the sale of carbon credits are capital receipts and not taxable. This decision was based on established legal precedents and analysis, highlighting that carbon credits do not generate a business asset but arise from environmental concerns, classifying the proceeds as capital receipts. The court's ruling aligned with previous judgments and legal principles distinguishing between capital and revenue receipts. en-us Thu, 02 Sep 2021 00:00:00 +0530 Fri, 24 Dec 2021 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412031 The court dismissed the Revenue's appeal, affirming that the proceeds from the sale of carbon credits are capital receipts and not taxable. This decision was based on established legal precedents and analysis, highlighting that carbon credits do not generate a business asset but arise from environmental concerns, classifying the proceeds as capital receipts. The court's ruling aligned with previous judgments and legal principles distinguishing between capital and revenue receipts. Case-Laws Income Tax Thu, 02 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412031