https://www.taxtmi.com/caselaws?id=773807 ITAT Ahmedabad held that income from sale of REC (carbon credits) constitutes capital receipt and is not taxable, following precedent in Satia Industries Ltd. The tribunal noted Section 115BBG specifically taxing carbon credits was introduced from 01.04.2018, confirming non-taxability for the assessment year. Regarding partner remuneration disallowance, ITAT upheld AO's view that partners' remuneration cannot be entirely excluded from exempt income activities, as assuming unit generates income without partner involvement is unreasonable. The tribunal agreed with proportionate disallowance based on power income ratio. For depreciation on solar assets, matter was restored to CIT(A) for adjudication as no findings were provided despite specific grounds raised. en-us Wed, 18 Jun 2025 00:00:00 +0530 Fri, 27 Jun 2025 11:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773807 ITAT Ahmedabad held that income from sale of REC (carbon credits) constitutes capital receipt and is not taxable, following precedent in Satia Industries Ltd. The tribunal noted Section 115BBG specifically taxing carbon credits was introduced from 01.04.2018, confirming non-taxability for the assessment year. Regarding partner remuneration disallowance, ITAT upheld AO's view that partners' remuneration cannot be entirely excluded from exempt income activities, as assuming unit generates income without partner involvement is unreasonable. The tribunal agreed with proportionate disallowance based on power income ratio. For depreciation on solar assets, matter was restored to CIT(A) for adjudication as no findings were provided despite specific grounds raised. Case-Laws Income Tax Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773807