https://www.taxtmi.com/caselaws?id=425176 The Tribunal allowed the appeal, overturning the Dispute Resolution Panel's decision to treat income from the sale of Renewable Energy Certificates (RECs) as a revenue receipt. The Tribunal held that the income was a capital receipt not directly linked to the business and generated due to environmental concerns. The addition made by the authorities was deemed unsustainable. However, specific details on the resolution of other issues raised by the Appellant, including the allowance of expenses and penalty proceedings, were not provided in the summary. en-us Tue, 05 Jul 2022 00:00:00 +0530 Sat, 16 Jul 2022 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425176 The Tribunal allowed the appeal, overturning the Dispute Resolution Panel's decision to treat income from the sale of Renewable Energy Certificates (RECs) as a revenue receipt. The Tribunal held that the income was a capital receipt not directly linked to the business and generated due to environmental concerns. The addition made by the authorities was deemed unsustainable. However, specific details on the resolution of other issues raised by the Appellant, including the allowance of expenses and penalty proceedings, were not provided in the summary. Case-Laws Income Tax Tue, 05 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425176