https://www.taxtmi.com/caselaws?id=428521 The Tribunal remanded the denial of exemption under section 11 to the Assessing Officer for fresh adjudication, instructing the AO to segregate income from sporting and non-sporting activities to determine eligibility for exemption. The Tribunal also directed the AO to allow the set off of deficits from earlier years against subsequent year's income once the exemption issue is resolved. Both appeals were allowed for statistical purposes, ensuring the assessee's opportunity to present relevant details and evidence during the fresh consideration by the AO. en-us Thu, 29 Sep 2022 00:00:00 +0530 Sat, 01 Oct 2022 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428521 The Tribunal remanded the denial of exemption under section 11 to the Assessing Officer for fresh adjudication, instructing the AO to segregate income from sporting and non-sporting activities to determine eligibility for exemption. The Tribunal also directed the AO to allow the set off of deficits from earlier years against subsequent year's income once the exemption issue is resolved. Both appeals were allowed for statistical purposes, ensuring the assessee's opportunity to present relevant details and evidence during the fresh consideration by the AO. Case-Laws Income Tax Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428521