https://www.taxtmi.com/caselaws?id=200060 ITAT Delhi held that penalty under section 158BFA(2) was not leviable on various income additions. For cricket receipts from BCCI/DDCA/Ranji Trophy, assessee had bonafide belief of exemption based on CBDT instruction, supported by SC precedent. UK cricket club receipts lacked evidence but CIT(A) granted 50% relief making penalty unjustified. Sanspareils Green receipts involved filing delays due to assessee being abroad with sufficient cause. Quiz programme income was based on assessee's statement without seized documents and bonafide belief of non-taxability. Salary and interest additions were deleted/reduced with section 80L deduction available. Alleged receivables based on seized loose documents failed to conclusively prove concealment, making penalty unwarranted across all issues. en-us Fri, 04 May 2012 00:00:00 +0530 Sat, 10 May 2025 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200060 ITAT Delhi held that penalty under section 158BFA(2) was not leviable on various income additions. For cricket receipts from BCCI/DDCA/Ranji Trophy, assessee had bonafide belief of exemption based on CBDT instruction, supported by SC precedent. UK cricket club receipts lacked evidence but CIT(A) granted 50% relief making penalty unjustified. Sanspareils Green receipts involved filing delays due to assessee being abroad with sufficient cause. Quiz programme income was based on assessee's statement without seized documents and bonafide belief of non-taxability. Salary and interest additions were deleted/reduced with section 80L deduction available. Alleged receivables based on seized loose documents failed to conclusively prove concealment, making penalty unwarranted across all issues. Case-Laws Income Tax Fri, 04 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200060