The Income Tax Appellate Tribunal (ITAT), in an appeal filed by the BCCI, upheld the arguments of the sports body that even though it’s making money through the Indian Premier League (IPL), the object of promoting cricket remains intact and hence its income should be exempt from tax.The Board of Control for Cricket in India (BCCI), the country’s richest sports body has won this round in a battle with the taxman.
The Income Tax Appellate Tribunal (ITAT), in an appeal filed by the BCCI, upheld the arguments of the sports body that even though it’s making money through the Indian Premier League (
IPL
NSE -0.05 %), the object of promoting cricket remains intact and hence its income should be exempt from tax. The de ..
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