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2017 (11) TMI 560 - AT - Income TaxExemption u/s 11 and 12 denied - non charitable activities - whether the assessee’s activity falls under the category of advancement of any other object of General Public Utility and the last proviso to Section 2(15) is clearly applicable to it as "Income from Sponsorship/ Royalty’ is explicitly business receipt in nature? - Held that:- Admittedly, the assessee is engaged in the activity of promotion of basketball and is carrying on charitable activities. Merely because it has received certain fund on account of royalty as well as on account of sponsorship it cannot be said that the activities of the trust are no more covered under section 2 (15) of the act. See Rajasthan Cricket Association versus additional CIT [2017 (4) TMI 346 - ITAT JAIPUR] No infirmity in the order of the Ld. CIT A, in allowing exemption to the assessee trust under section 11 and 12 of the income tax act. - Decided in favour of assessee.
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