Sale of Renewable Energy Certificates Not Taxable: ITAT Ahmedabad

Mayur Dyechem Intermediates LLP Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that income from the sale of Renewable Energy Certificates (RECs) by Mayur Dyechem Intermediates LLP for AY 2017-18 is a capital receipt and not taxable. Tribunal partly allowed the appeal and restored depreciation claims for CIT(A) adjudication. Background: Mayur Dyechem Intermediates LLP (“the assessee”) filed its income tax return for Assessment Year 2017-18 declaring a total income of ₹26.75 crore. The assessee claimed deductions under Section 80IA of the Income Tax Act, 1961, for income from solar power pla...