No tax leviable on Gifts/Prizes/Awards/Rewards received by sportsman Abhinav Bindra

Abhinav Bindra Vs. DCIT (ITAT Delhi) Shri Abhinav Bindra is the first person in the history of independent India to have won the Olympic Gold Medal. In a country whose population is more than 100 crores, if a sportsman who is not a professional sportsman has won the gold medal for the first time after 60 years of independence of the country and he has been given the awards/rewards/prizes mainly by various Governments, local authorities, trusts and institutions and of course some corporate/individuals, a liberal construction of Circular No. 447 is required. Considering the facts of the case and...