https://www.taxtmi.com/caselaws?id=788062 Proceeds from sale of certified emission reductions (carbon credits) arising from windmill operations are characterised as capital receipts, not trading or business income, because they lack the character of a trading activity; therefore the receipts are not taxable as business income. Consequentially, those capital receipts do not qualify as income 'derived from' or directly attributable to the industrial undertaking for purpose of the tax incentive, and section 80IA deduction is not available in respect of the carbon credit proceeds. en-us Mon, 23 Feb 2026 00:00:00 +0530 Mon, 16 Mar 2026 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788062 Proceeds from sale of certified emission reductions (carbon credits) arising from windmill operations are characterised as capital receipts, not trading or business income, because they lack the character of a trading activity; therefore the receipts are not taxable as business income. Consequentially, those capital receipts do not qualify as income 'derived from' or directly attributable to the industrial undertaking for purpose of the tax incentive, and section 80IA deduction is not available in respect of the carbon credit proceeds. Case-Laws Income Tax Mon, 23 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788062