https://www.taxtmi.com/caselaws?id=439451 The Tribunal ruled in favor of the assessee, determining that the income from the sale/transfer of Renewable Energy Certificates (RECs) and Energy Saving Certificates (ESCs) is of a capital nature and not liable to tax as business income. The Tribunal allowed the assessee to amend the claim regarding the nature of income during the assessment stage, citing relevant precedents. Additionally, the Tribunal found the addition of commission paid to Zylo International under Section 69C to be unjustified, as the assessee provided adequate evidence to support the transaction, leading to the quashing of the addition. en-us Tue, 13 Jun 2023 00:00:00 +0530 Mon, 18 Sep 2023 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439451 The Tribunal ruled in favor of the assessee, determining that the income from the sale/transfer of Renewable Energy Certificates (RECs) and Energy Saving Certificates (ESCs) is of a capital nature and not liable to tax as business income. The Tribunal allowed the assessee to amend the claim regarding the nature of income during the assessment stage, citing relevant precedents. Additionally, the Tribunal found the addition of commission paid to Zylo International under Section 69C to be unjustified, as the assessee provided adequate evidence to support the transaction, leading to the quashing of the addition. Case-Laws Income Tax Tue, 13 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439451