ITAT restricts exemption to Rs. 25 lakhs as ‘Davis Cup’ held by CLTA was for commercial purpose

IT : Where pre-dominant object of assessee society Chandigarh Lawn Tennis Association was promotion of game of tennis including selection of players, training of players, and conduct of matches both domestic and international, other income of assessee such as from nominal registration fees or nominal coaching fees which was charged so as to attract only genuinely interested trainees / players could not be said to be its business income as it was sans profit motive. Further, holding of matches fo

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