2014 (6) TMI 82

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..... ed in the course of business but it is generated due to environmental concerns -” Carbon Credit is not even directly linked with power generation - on the sale of excess Carbon Credits the income was received it is capital receipt and it cannot be business receipt or income – Decided against Revenue. - I.T.T.A. NO.60 OF 2014 - - - Dated:- 19-2-2014 - SRI KALYAN JYOTI SENGUPTA AND SRI SANJAY KUM .....

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..... to the machinery and processes employed in the production process by the assessee? Sri J.V. Prasad, learned Counsel appearing for the appellant Revenue submits that the consideration received on account of sale of Carbon Credits should be treated to be business income as the sale has been made in connection with the business. We have considered the aforesaid submission and we are unable t .....

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