INCOME TAX : Where assessee a retired professional cricketer received ex-gratia payment from BCCI which was claimed as capital receipt not chargeable to tax and AO brought said sum to tax under section 56(2)(vii) without ascertaining whether registration of BCCI was restored under section 12AA for relevant assessment year or not, in such a case matter was to be remanded to AOINCOME TAX : Where assessee a retired professional cricketer received ex-gratia payment from BCCI which was claimed as capital receipt not chargeable to tax and AO brought said sum to tax under section 56(2)(vii) without ascertaining whether registration of BCCI was restored under section 12AA for relevant assessment year or not, in such a case matter was to be remanded to AOwww.taxmann.com Latest Case LawsRead More
