Assessee, an apex sports body in India representing country, claimed exemption under sections 11 and 12.  During year, assessee entered into sponsorship agreements with few Indian business groups and received certain amount as sponsorships. Assessing Officer held that the  nature of activities in respect of sponsorship agreements with various sponsors is in nature of business and   held that assessee was hit by second proviso to section 2(15) and, hence, not eligible for benefit of exemption under sections 11 and 12. CIT(A) allowed the exemption.  On appeal the Tribunal held that the  assessee is  representing country under aegis of Government in amateur international sports events and arranging these sponsorship contracts is in itself a great task for assessee as sponsors were paying out of their profits for motivating assessee and sportspersons of country in participating in international events. Therefore  neither sponsor nor assessee could be attributed any profit motive from outcome of these sponsorship agreements. Order of CIT(A) is affirmed.  (AY. 2017-18)