On the basis of this line of reasoning, the Assessing Officer treated the said amount of Rs 1,58,00, as income of the assessee. Hence, my query is whether I can get another copy of this acknowledgement i. It is also contended that nature of receipt about hands of the assessee by way of sharing of sponsorship of media rights with BCCI as well as match revenue for conducted various cricket matches. No matches or any game other than Cricket or no other events are organized to attract audience rather only cricketmatches are being organized whether the same result into profit or loss. CIT and the detailed reply given by the assessee was not considered. Thanks Ajay for encouraging words.
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I understand that this receipt is tax free under section 10 16scholarship granted to meet the cost of education is exempt from tax.
Are you using Excel ? For a donation as a corpus donation, a written document with specific direction from the donor should be obtained and should accompany the donation from the donor. The assessee is not free to use it as per its convenience for any purpose other than for promotion of cricket. These are for information purposes, read them and click OK. In this decision, the Delhi Bench of the Tribunal had considered the following receipts: Note every year Income Tax Return forjat are different due to changes in income tax laws.
Fill in the mandatory fields in the sheet and Validate each sheet, fix errors reported, before moving the next sheet. In addition to the submissions made on merits, for the Assessment Yearthe ld.
The Tribunal has taken the view that what is distributed is appropriation of profits. Statement of income after set off of unabsorbed loss brought forward from earlier rxcel.
Our article Joint Fog Loan and Tax explains it in detail. If not valid, i want to correct it without having to file a revised return. Clicking on Generate XML, will recheck all sheets to ensure that no sheet is invalid, and thereafter, will show a Pre XML sheet to reconfirm the count of the rows being generated in the various schedules as shown in image below.
M/S Jharkhand State Cricket vs Dcit Exemption, Ranchi on 15 March,
Can I de-activate the automatic set off feature and is it valid by IT rules? This may be caused due to an add-in template located in the startup folder of Office and Excel. In this regard, it is submitted that at page 32 of the order of Hon'ble ITAT Ahemdabad Bench, Ahemdabad which has been rendered recently, this conscious fact has been mentioned in the reproduced portion of CIT A order in the said case.
There is missing package in your installation of MS Office. As seen from the observation of the Tribunal, although generally it accepted the case of the assessee that the physical aspect of the game was one in accordance with the objects, the quantum of receipt apparently led the Tribunal and the Revenue to come to the conclusion that the activities are commercial and hence by s.
It is not excek the carry forward losses. The Tribunal's view that it is an entertainment and hence offended s. When he probed the matter further, it was explained by the assessee that nomenclature of the receipt apart, what has been received by the assessee is a corpus donation and the assessee did not have any right to get the said money from the BCCI, under excek contract or otherwise.
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Counsel for the assessee, before tor filed a detailed written submission, which is extracted for ready reference: Read more on Taxes. Jharkhand State Cricket Association on account of activities of an entity other than the assessees- something which law does not permit. It is not sold independently as trading item.
Thus, it rejected the assessee's case and held that both the conditions under s. Copy the downloaded zip file into this folder. However, that by itself, should not have any bearing at all on the nature of the transaction, as well as resultant activity in the hands of assessee. An Excel worksheet is a single spreadsheet un contains cells organized by rows and columns.
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The xml does get generated but unfortunately, at the time of upload, the webpage prompts that it is invalid xml. The assessee is engaged in objects of edcel public utility as stated in section 2 15 of the Act.
Macro Security of Medium provides you with the option to enable or disable macros anytime you open a file that contains a macro, but will allow you to run any macros you choose.
Came across the following article which discusses it.
This issue was also considered by the Ahmedabad D Bench of the Tribunal and it was adjudicated that the receipts un question are in the capital field. We donot wish to deal with that aspect of the matter or to make any observations which would prejudge the case of the BCCI.
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