Tag: BCCI

BCCI cannot be refused an income tax exemption just because the IPL is constructed in a more profitable manner.

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[ad_1] Fact and Issue of the case This appeal challenges correctness of the order dated 28th March 2019 passed by the learned Principal Commissioner of Income Tax, Central Charge 3, Mumbai (hereinafter referred to as the Commissioner), rejecting the application for registration under section 12A(1)(ab) r.w.s. 12AA of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’). The registration of an institution is foundational, though not conclusive, a factor so far as tax exemption benefits under sections 11 and 12 of the Act to the assessee are concerned…