2021 (1) TMI 1348

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....Ms. Rakhi Vimal, Sr. DR ORDER PER N. K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-19, New Delhi dated 25.06.2019 pertaining to A.Y. 2013-14. 2. The solitary grievance of the assessee is that the CIT(A) erred in confirming the addition of Rs.75,09,600/- u/s. 56 (2) (vii) of the Act on account of receipt of one time reward from BCCI. 3. The....

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.... record carefully perused. The bone of contention is whether the onetime payment received from BCCI is exempt from tax or not. The answer lies in the provisions of section 56 (2) (vii) second proviso which states that "clause (vii) was not apply to any some of money or any property received from (g) any trust or institution registered u/s.12 AA". 8. We find that BCCI is a registered trust u/s.1....