2018 (10) TMI 1163

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.... grounds of appeal: 1. That the order of the Assessing Officer/ CIT(A) in so far as it is against the appellant is against the law, facts, circumstances, natural justice, equity, without jurisdiction, bad in law and all other known principles of law. 2. That the total income computed is hereby disputed. 3. That the authorities below erred in disallowing expenditure on account of contribution to cricket academy amounting to Rs. 45,00,000/-  by holding it as capital expenditure. 4. That the authorities below erred in disallowing ticketing expenses amounting to Rs. 51,47,000/-. 5. For the above and Other grounds and reasons which may be submitted during the course of hearing of this appeal, the....

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.... matches wherein the assessee is a participant. He further submitted that creation of facilities is essential for identification of talent in young players and to ensure them with a provision of adequate training and coaching facilities. Hence, this contribution was made in the ordinary course of business of the assessee and should be allowed as business expenditure as it was incurred wholly and exclusively for the purpose of the assessee. Reliance in this regard was placed on the decision of the Hon'ble Supreme Court in the case of CIT vs. Malayalam Plantation Ltd. (53 ITR 140). It was further submitted that on account of making this contribution, the assessee had not acquired any asset of an enduring nature or enduring benefit as the b....

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....ssociation (KSCA) for the purpose of creating a cricket academy. The assessee was also a Franchisee of BCCI-IPL, which owns Royal Challengers Bangalore Team and is also owner of a cricket team and had commercial interest in the game of cricket. This contribution was made in terms of agreement with Karnataka State Cricket Objectives of the Academy (as per clause 2 of the agreement) - To provide high quality cricket education within a holistic development program - To enhance the standards of coaching across the state by introducing techniques such as Cognitive Video based coaching to cricket development - To percolate international cricket practices to domestic levels - To be a leader in cricket d....