https://www.taxtmi.com/caselaws?id=424409 The High Court dismissed the tax case appeal filed by the Revenue, affirming that the proceeds from the sale of carbon credits and TUF subsidies are capital receipts and not taxable under the Income Tax Act, 1961. The Tribunal's decision was supported by consistent judicial precedents, including decisions from various High Courts and the Supreme Court. The judgment emphasized the importance of the purpose and nature of receipts in determining their taxability. en-us Mon, 20 Jun 2022 00:00:00 +0530 Mon, 22 Aug 2022 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424409 The High Court dismissed the tax case appeal filed by the Revenue, affirming that the proceeds from the sale of carbon credits and TUF subsidies are capital receipts and not taxable under the Income Tax Act, 1961. The Tribunal's decision was supported by consistent judicial precedents, including decisions from various High Courts and the Supreme Court. The judgment emphasized the importance of the purpose and nature of receipts in determining their taxability. Case-Laws Income Tax Mon, 20 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424409