https://www.taxtmi.com/caselaws?id=449102 The CESTAT Ahmedabad held that sponsorship fees paid for associate sponsorship rights of an IPL team qualify for exemption under Section 65(105)(zzzn) as sponsorship of a sports event. The tribunal rejected the department's contention that the exemption applies only to sports events and not sports teams. Following the precedent in Hero Motocorp case, which was upheld by the SC, the tribunal ruled that sponsorship of an IPL team constitutes sponsorship of a sports event itself, given the extensive connotation of "sports event." The impugned order was set aside and the appeal was allowed. en-us Mon, 15 Jan 2024 00:00:00 +0530 Tue, 06 Feb 2024 08:20:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449102 The CESTAT Ahmedabad held that sponsorship fees paid for associate sponsorship rights of an IPL team qualify for exemption under Section 65(105)(zzzn) as sponsorship of a sports event. The tribunal rejected the department's contention that the exemption applies only to sports events and not sports teams. Following the precedent in Hero Motocorp case, which was upheld by the SC, the tribunal ruled that sponsorship of an IPL team constitutes sponsorship of a sports event itself, given the extensive connotation of "sports event." The impugned order was set aside and the appeal was allowed. Case-Laws Service Tax Mon, 15 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449102