Exemption u/s (39) of the Income-tax Act, 1961 -- Specified income from any international sporting event - Income arising to Commonwealth Games Federation - 007/2008 - Income Tax Act, 1961
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Tax exemption for specified international sporting event income covers Host Fee received by Commonwealth Games Federation from event organisers. The Central Government designates the Commonwealth Games Federation as the person, Commonwealth Games 2010 as the international sporting event, and the Host Fee income arising to the Federation from the Organising Committee as the specified income; that identified Host Fee income is treated as exempt under clause (39) of section 10 of the Income-tax Act for the purposes of the statutory exemption framework.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption for specified international sporting event income covers Host Fee received by Commonwealth Games Federation from event organisers.
The Central Government designates the Commonwealth Games Federation as the person, Commonwealth Games 2010 as the international sporting event, and the Host Fee income arising to the Federation from the Organising Committee as the specified income; that identified Host Fee income is treated as exempt under clause (39) of section 10 of the Income-tax Act for the purposes of the statutory exemption framework.
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