Dismissing the appeal of the revenue the Court held the sale of certified emission reduction credit, which the assessee had earned on the clean development mechanism in its wind energy operations, is a capital receipt and not taxable. (AY.2009-10)
CIT v. Wescare (India) Ltd. (2021) 439 ITR 657 (Mad.)(HC)
S. 4 : Charge of income-tax-Capital or revenue-Sale of emission reduction credit-Capital receipt. [S. 28(i)]