BCCI can maintain charitable entity status, IPL not liable to tax: Tribunal

Dodging a bouncer from the tax departed, the Board of Control for Cricket in India will continue to get tax exemption as an income tax tribunal has ruled that the richest sports body in the country can't be denied registration as the charitable entities.

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The Income Tax Appellate Tribunal in Mumbai had denied registration for BCCI as a charitable institution.

The Income Tax tribunal rejected the tax authorities' argument that IPL is a money-making exercise in the garb of cricket promotion.

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BCCI was granted registration as a charitable institution in 1996.

It applied for fresh registration due to amendments made in the its memorandum of association for incorporating the recommendations made by Justice Lodha Committee, which were approved by the Supreme Court.