Exemption u/s 11 - promotion and development of the game of ...
Income Tax
July 25, 2022
Exemption u/s 11 - promotion and development of the game of Cricket - proviso to section 2(15) is invoked in the case of the assessee as the activities of the assessee are being run on commercial basis - given that the assessee society is generating surplus year after year is not the deciding factor to determine whether it is eligible for exemption under section 11 of the Act. And on this ground alone, the exemption claimed by the assessee society under section 11 can not be denied. - AT
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