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2021 (12) TMI 713 - MADRAS HIGH COURT
Nature of receipts - sale of Carbon Emission Reduction (CER) also known as Carbon Credits - revenue or capital receipts - HELD THAT:- As decided in S.P. SPINNING MILLS PVT. LTD.[2021 (1) TMI 1081 - MADRAS HIGH COURT] such receipt should be treated as a capital receipt. As decided in MAHESHWARI DEVI JUTE MILLS LIMITED [1965 (4) TMI 10 - SUPREME COURT] amount received out of sale of loom-hours can be termed as capital receipt and not income out of business. - Decided in favour of assessee.