Sec. 11 exemption couldn’t be disallowed just because ‘JSCA’ received sum from BCCI on account of IPL subvention

INCOME TAX: Where assessee-society, involved in business of cricket with an object to promote game of cricket, received certain amounts from BCCI on account of IPL sub-vention, TV rights subsidy etc. and claimed exemption under sections 11 and 12, however Assessing Officer invoked proviso to section 2(15), disallowing its claim on ground that said receipts were commercial in nature, since proviso to section 2(15) could not be invoked on ground that said receipts were commercial in nature, Assess

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