Live Help
Get News Alerts from Taxmann.com on your desktop.
No Thanks Allow
You have blocked the notification on recent updates. Click below to re-subscribe.
No Thanks
You have already subscribed to Taxmann’s notification.
No Thanks UnSubscribe
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset Session Cancel Session
 

Sec. 11 exemption couldn’t be disallowed just because ‘JSCA’ received sum from BCCI on account of IPL subvention

September 23, 2019[2019] 112 taxmann.com 320 (Ranchi-Trib.)
390 Views

INCOME TAX: Where assessee-society, involved in business of cricket with an object to promote game of cricket, received certain amounts from BCCI on account of IPL sub-vention, TV rights subsidy etc. and claimed exemption under sections 11 and 12, however Assessing Officer invoked proviso to section 2(15), disallowing its claim on ground that said receipts were commercial in nature, since proviso to section 2(15) could not be invoked on ground that said receipts were commercial in nature, Assessing Officer wrongly invoked same

taxmann.com
Payment
Best view in 1140 x 768