Hyderabad Cricket Association allowed to claim exemption u/s. 11

Hyderabad Cricket Association Vs. Jt. Director of Income Tax (ITAT Hyderabad) A survey u/s. 133A of the Act was conducted on 21-10-2011 in the office premises of the assessee located at Rajiv Gandhi International Cricket Stadium, Uppal, Hyderabad. It was found that the assessee was carrying on activities which are not charitable in nature. It was observed that the assessee was deriving income from various commercial sources including receipts from league fees, sale of tickets of One Day International matches, IPL matches, advertisement charges, franchise fees and sponsorship fees from various ...