January 9, 2014 7:27 PM

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IT withdraws tax-exemption given to four cricket associations<br/>

The Income Tax authorities have withdrawn tax-exemption given to four cricket associations. They are Saurastra Cricket Association, Baroda Cricket Association, Kerala Cricket Association and Maharastra Cricket Association. The tax authorities found that these cricket associations were engaged in certain activities which were considered commercial as per Income Tax Act, 1961.

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