Dismissing the appeal of the revenue the Tribunal held that Income from sale of Carbon emission reduction certificates is capital receipt. Followed PCIT v. Rajasthan State Mines & Minerals Ltd. [D.B. IT Appeal No. 151 of 2016, 13-10-2017 (Raj ) (HC)]. (AY. 2010-11, 2011 -12)
ACIT v. Ginni Global (P.) Ltd. (2019) 178 ITD 693 (Jaipur) (Trib.)
S. 4 : Charge of income-tax–Capital or revenue-Income from sale of Carbon emission reduction certificates is capital receipt. [S.80IA, 115BBG]