Dismissing the appeal of the Revenue the Court held that receipt from sale of carbon credit (i.e. Carbon Emission Reduction (CER) credit) received is a capital receipt and, hence, not liable to tax. (AY. 2012-13)
PCIT v. Chemplast Sanmat Ltd. (2022) 142 tamann.com 515(Mad.)(HC) Editorial: Notice issued in SLP filed by Revenue,PCIT v. Chemplast Sanmat Ltd. (2022) 289 Taxman 168 (SC)
S. 4 : Charge of income-tax-Carbon credit-Capital or revenue-Receipt from sale of carbon credit was a capital receipt and hence not liable to tax. [S. 28(i)]