https://www.taxtmi.com/caselaws?id=304376 The judgment upheld that income from carbon credits entitlement is a capital receipt and not taxable under the Income Tax Act, 1961, based on established legal precedents and interpretations. The appeal by the revenue challenging the deletion of the addition of income accrued from carbon credits entitlement was dismissed by the Tribunal, following precedents that established carbon credits as not generating taxable income but as a means to reduce carbon emissions due to environmental concerns. The decision was consistent with previous rulings and confirmed by the High Court, leading to the dismissal of the departmental appeal. en-us Wed, 16 Dec 2015 00:00:00 +0530 Fri, 23 Sep 2022 08:23:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304376 The judgment upheld that income from carbon credits entitlement is a capital receipt and not taxable under the Income Tax Act, 1961, based on established legal precedents and interpretations. The appeal by the revenue challenging the deletion of the addition of income accrued from carbon credits entitlement was dismissed by the Tribunal, following precedents that established carbon credits as not generating taxable income but as a means to reduce carbon emissions due to environmental concerns. The decision was consistent with previous rulings and confirmed by the High Court, leading to the dismissal of the departmental appeal. Case-Laws Income Tax Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304376