Mumbai, Feb. 19 -- The Bombay High Court has granted a relief to Board of Control for Cricket in India (BCCI), while quashing the 2009 advisory issued by the Income Tax (IT), by which the latter denied tax exemption as a charitable institution promoting sport and cancelled registration under Section 12A of the Income Tax Act, 1961, an official said here on Wednesday.
The court emphasised that such non-statutory communications cannot be the basis for denying tax exemptions or cancelling registration under Section 12A of the Income Tax Act.
A bench of Justices M S Sonak and Jitendra Jain held that the Income Tax Appellate Tribunal (ITAT) exceeded its jurisdiction by commenting on the merits of the 2009 advisory after ruling that BCCI's appe...