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CER Credit Transfers Deemed Capital Receipts, Not Taxable Under Income Tax Act Sections 28(iv) and 2(24)(vd.

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....Receipt from transfer of Carbon Emission Reduction ("CER") - carbon credits are not offshoot of business but offshoot of environmental concerns and hence not chargeable to tax. The receipts arising from transfer of carbon credits are in the nature of capital receipts not subjected to tax in terms of section 28(iv) read with section 2(24)(vd) of the Act. - AT....

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CER Credit Transfers Deemed Capital Receipts, Not Taxable Under Income Tax Act Sections 28(iv) and 2(24)(vd.