Exemption u/s 11 - Registration u/s 12A(1)(ab) r.w.s. 12AA ...

Case Laws Income Tax

November 19, 2021

Exemption u/s 11 - Registration u/s 12A(1)(ab) r.w.s. 12AA rejected - IPL activities - The purpose for which all the funds at the disposal of the assessee trust, including the additional funds generated by holding the IPL tournament, are employed is certainly for promoting cricket, and that is what really matters. Improvising the rules of the game, adding entertainment value to it and making it economically attractive, may be a purist's nightmare but the same factors can also be viewed as radical and innovative ideas to popularise a game - the very raison d'etre of an institution like this assessee, and that is how we view it. - the assessee was entitled to the continuance of its registration under section 12A - AT

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Exemption u/s 11 - Registration u/s 12A(1)(ab) r.w.s. 12AA ...

Case Laws Income Tax

November 19, 2021

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