https://www.taxtmi.com/caselaws?id=787633 Income from sale of Renewable Energy Certificates (RECs) does not fall within the statutory meaning of "carbon credits" for concessional taxation because Section 115BBG is limited to UNFCCC-validated reductions equivalent to one tonne of CO2 and tradable as defined; therefore the concessional rate under Section 115BBG does not apply. Separately, proceeds from REC trading lack the direct "derived from" nexus with power generation required by Section 80IA, so such receipts are not deductible as profits of an eligible power business; the claim for both concessional tax and deduction is rejected. en-us Fri, 06 Mar 2026 00:00:00 +0530 Tue, 10 Mar 2026 08:51:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787633 Income from sale of Renewable Energy Certificates (RECs) does not fall within the statutory meaning of "carbon credits" for concessional taxation because Section 115BBG is limited to UNFCCC-validated reductions equivalent to one tonne of CO2 and tradable as defined; therefore the concessional rate under Section 115BBG does not apply. Separately, proceeds from REC trading lack the direct "derived from" nexus with power generation required by Section 80IA, so such receipts are not deductible as profits of an eligible power business; the claim for both concessional tax and deduction is rejected. Case-Laws Income Tax Fri, 06 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787633