https://www.taxtmi.com/caselaws?id=355545 The Tribunal held that the revisionary order under section 263 of the Income Tax Act was not justified and bad in law as the Assessing Officer had conducted thorough inquiries and accepted the explanations provided by the assessee. The Tribunal affirmed that the assessee's activities were charitable in nature, not for profit, and solely for promoting cricket, thus eligible for exemption under section 11. It was also determined that the proviso to section 2(15) did not apply to the assessee's activities, and the assessee was not to be treated as an Association of Persons (AOP). Consequently, the appeals were allowed, and the revisionary order was deemed invalid. en-us Thu, 08 Feb 2018 00:00:00 +0530 Wed, 14 Feb 2018 13:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355545 The Tribunal held that the revisionary order under section 263 of the Income Tax Act was not justified and bad in law as the Assessing Officer had conducted thorough inquiries and accepted the explanations provided by the assessee. The Tribunal affirmed that the assessee's activities were charitable in nature, not for profit, and solely for promoting cricket, thus eligible for exemption under section 11. It was also determined that the proviso to section 2(15) did not apply to the assessee's activities, and the assessee was not to be treated as an Association of Persons (AOP). Consequently, the appeals were allowed, and the revisionary order was deemed invalid. Case-Laws Income Tax Thu, 08 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355545