The Chandigarh bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Chandigarh Lawn Tennis Association is liable to pay tax on the income over and above amount for Rs. 25 lacs received from organizing of Davis Cup Tie as the same can be treated as ‘business activity’. Assessee, M/s Chandigarh […]
The post Income from organizing Davis Cup Tie is Business Income: ITAT denies Relief to CLTA [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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