New Delhi:
India's cricket board BCCI has to pay a whopping Rs 120 crore in tax and penalty after the Income Tax department revoked its exemption.
The Board had claimed a tax exemption on grounds that promoting cricket is a charitable activity but the IT department has rubbished it in its latest assessment.
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The department says,"The BCCI has become totally commercial and it is more into prize money for every run or wicket, which is nothing short of a gimmick. It also says the board has done little to develop infrastructure for cricket
The IT order was served on December 30 but BCCI is likely to appeal against it.
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The BCCI has also been accused of changing its rules to include T-20 matches without informing the department of this new commercial venture.
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Topics mentioned in this article
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