Held that where carbon credit was not an offshoot of business of assessee but an offshoot of environmental concerns, income from sale of carbon credits was to be considered as capital receipt. (AY. 2011-12)
ACIT v. Nahar Industrial Enterprises Ltd. (2022) 219 DTR 73 / 219 TTJ 544 / 99 ITR 562 / 142 taxmann.com 52 (Chd.)(Trib.) ACIT v. Nahar Spinning Mills Ltd (2022) 219 DTR 73 / 219 TTJ 544 / 99 ITR 562 / 142 taxmann.com 52 (Chd.)(Trib.) ACIT v. Oswal Woollen Mills Ltd. (2022) 219 DTR 73/ 219 TTJ 544 /99 ITR 562 / 142 taxmann.com 52 (Chd.)(Trib.)
S. 4 : Charge of income-tax-Capital or revenue-Sale of carbon credits-Capital receipts. [S. 28(i)]