Transfer of Renewable Energy Certificate is capital and not taxable as business income

Satia Industries Ltd Vs National Faceless Assessment Centre (ITAT Amritsar)

ITAT Amritsar held that transfer of REC (Renewable Energy Certificate) is capital in nature and not liable to tax under business income as the income is offshoot from environmental concern not from offshoot of business concern.

Facts- The assessee-company is manufacturer of writing and printing paper, having factory premises in the village of Rupana, situated at Muktsar Sahib. The assessee-company has a co-generation captive p

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