SARKAR TALWAR,FARIDABAD vs. ITO WARD-II(3), FARIDABAD

ITA 2869/DEL/2023Status: DisposedITAT Delhi14 August 2024AY 2013-14Bench: SHRI S RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)11 pages
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What did the Tribunal hold?

The Tribunal held that the award received by the assessee from BCCI is exempt from tax under Section 10(17A) of the Income Tax Act, as it was received in the capacity of a sportsman and not for professional reasons. The initial declaration as taxable income was considered a bonafide mistake.

What were the facts?

The assessee, a renowned cricket player, received Rs. 30 lacs from BCCI as an award. He initially declared this as taxable income but later sought exemption under Section 10(17A) of the Income Tax Act, claiming it was a bonafide mistake. The Assessing Officer and CIT(A) rejected his claim, stating it was beyond the scope of Section 154.

What were the issues?

Whether an award received by a sportsman from BCCI is exempt from tax under Section 10(17A) and if a bonafide mistake in declaring it as taxable income can be rectified.

Which sections of the Income-tax Act were involved?

Section 10(17A),Section 154

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Income Tax Appellate Tribunal, DELHI BENCH: ‘SMC’: NEW DELHI

Before: SHRI S RIFAUR RAHMAN & SHRI SUDHIR PAREEK

For Appellant: Shri Lalit Mohan, CA and Shri Parth Singhal, Adv
For Respondent: Shri Om Parkash, Sr.DR
Hearing: 15.05.2024Pronounced: 14.08.2024

PER SUDHIR PAREEK, JM

The aforetitled appeal has been preferred by Assessee /

Appellant against order dated 18.08.2023 u/s 154 of the Income

Tax Act, 1961 (in short referred as “the Act”) passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal

ITA No.- 2869/Del/2023 Sarkar Talwar Centre (NFAC) [for the sake of convenience, hereinafter referred to as “CIT(A)] by which appeal filed by the assessee was dismissed.

2.

Facts of the case in chronological manner may be summarized as that the assessee is an individual, who filed his

return of income by declaring total income of Rs. 38,90,060/-.

After being processed the same u/s 143

The order continues below.

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