The Board of Control for Cricket in India (BCCI) may continue to get tax exemption as an income tax tribunal has ruled that the Board can't be denied registration as the charitable entities after it amends its memorandum of association (MoA) to undertake Indian Premier League (IPL) and other commercial activities.
The Income Tax Appellate Tribunal (ITAT), Mumbai held denial of registration for BCCI as a charitable institution by the tax authorities as legally misconceived.
It rejected the tax authorities' argument that IPL is a money-making exercise in the garb of cricket promotion.
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