Bench: Sri J. Sudhakar Reddy, Hon’Ble & Sri Sanjay Garg, Hon’Ble) [Virtual Court Hearing] M/S. Calcutta Cricket & Football Club......................................................................……....….....Appellant 10B, Middleton Row Kolkata – 700 071 [Pan : Aaccc 6337 P] Vs. Income Tax Officer, Exemption – Ward(1), Kolkata…………….....................….…....…… Respondent Appearances By: Shri J.P. Khaitan, Sr. Advocate & Shri Manoj Kataruka, Advocate, Appeared On Behalf Of The Assessee. Shri Supriyo Pal, Addl. Cit D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : January 13Th, 2021 Date Of Pronouncing The Order : February 5Th, 2021 Order Per J. Sudhakar Reddy, Am :-

131 ITD 335 (Lucknow) and the Hon’ble Calcutta High Court in the case of Commissioner Of Income-Tax vs Birla Janahit Trust reported in [1994] 208 ITR 372 (Cal), for the proposition that, the 15% of the gross income should allowed to be 2 ITA No. 499/Kol/2019; M/s. Calcutta Cricket & Football Club M/s. Calcutta Cricket & Football Club accumulated