ITAT allows tax exemption to Kapil Dev on ₹1.5 crore given by BCCI for service to cricket

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) granted relief to former cricketer Kapil Dev, holding that the ₹1.5 crore he received from the Board of Control for Cricket in India (BCCI) as a one-time benefit for his services to the game is not taxable under the Income Tax Act, 1961. The Tribunal's decision was made in the case of Kapil Dev Nikhanj v ACIT. A coram of…