Assessee earned income from trading of carbon credits. The Assessing Officer treated same as revenue receipt. Tribunal held that assessee’s income from trading of carbon credits should be in nature of capital receipts. Order of Tribunal is affirmed. (AY. 2014-15)
PCIT v. Gujarat Flurochemicals Ltd. (2023) 459 ITR 242/295 Taxman 200 (Guj.)(HC)
S. 4 : Charge of income-tax-Capital-Income from trading of carbon credits-Capital receipts. [S.28(i)]