CER Credit Transfers Deemed Capital Receipts, Not Taxable Under Income Tax Act Sections 28(iv) and 2(24)(vd.

CER Credit Transfers Deemed Capital Receipts, Not Taxable Under Income Tax Act Sections 28(iv) and 2(24)(vd. https://www.taxtmi.com/highlights?id=62012 Receipt from transfer of Carbon Emission Reduction ("CER") - carbon credits are not offshoot of business but offshoot of environmental concerns and hence not chargeable to tax. The receipts arising from transfer of carbon credits are in the nature of capital receipts not subjected to tax in terms of section 28(iv) read with section 2(24)(vd) of the Act. - AT en-us Fri, 18 Feb 2022 12:59:41 +0530 Fri, 18 Feb 2022 12:59:41 +0530 TaxTMI RSS Generator CER Credit Transfers Deemed Capital Receipts, Not Taxable Under Income Tax Act Sections 28(iv) and 2(24)(vd. https://www.taxtmi.com/highlights?id=62012 Receipt from transfer of Carbon Emission Reduction ("CER") - carbon credits are not offshoot of business but offshoot of environmental concerns and hence not chargeable to tax. The receipts arising from transfer of carbon credits are in the nature of capital receipts not subjected to tax in terms of section 28(iv) read with section 2(24)(vd) of the Act. - AT Highlights Income Tax Fri, 18 Feb 2022 12:59:41 +0530 https://www.taxtmi.com/highlights?id=62012