BCCI Not Taxable on Foreign World Cup Match Income Managed Through PILCOM: ITAT Mumbai

Advertisement ITO (E) Vs Board of Control for Cricket in India (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai, decided the Revenue’s appeal against the order of the Commissioner of Income-tax (Appeals) [CIT(A)] relating to Assessment Year 1996-97. The appeal challenged the CIT(A)’s findings that PILCOM was merely a managing committee forming part of the Board of Control for Cricket in India (BCCI), the deletion of various additions made by the Assessing Officer (AO), and the direction to assess the income substantively in the hands of BCCI. The assessee, BCCI, is...