https://www.taxtmi.com/caselaws?id=420428 The court held that income from the sale of carbon credits is a capital receipt and not taxable under the Income-tax Act, 1961. The carbon credits were deemed to be received for environmental concerns, not business operations. Therefore, the receipts should be excluded from the computation of book profits under section 115JB. The decision was based on previous rulings and affirmed by the Tribunal, dismissing the Revenue's appeal. en-us Thu, 17 Mar 2022 00:00:00 +0530 Fri, 01 Apr 2022 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420428 The court held that income from the sale of carbon credits is a capital receipt and not taxable under the Income-tax Act, 1961. The carbon credits were deemed to be received for environmental concerns, not business operations. Therefore, the receipts should be excluded from the computation of book profits under section 115JB. The decision was based on previous rulings and affirmed by the Tribunal, dismissing the Revenue's appeal. Case-Laws Income Tax Thu, 17 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420428