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2013 (7) TMI 288 - MADRAS HIGH COURTPenalty u/s 201(1A) - TDS not deducted on prize money - Held that:- ssessee herein was allotted a Contessa car as the first prize under the National Savings Scheme. The Assessing Officer treated it as winnings from lotteries within the meaning of section 2(24)(ix) of the Income-tax Act, 1961, subject to the special rates envisaged under section 115BB of the Act. The appeal before the Commissioner (Appeals) failed. Hence, a further appeal was taken before the Tribunal, which allowed the appeal holding that the prize won by the assessee was not covered by section 2(24)(ix) of the Act - Following decision of CIT v. Deputy Director of Small Savings [2003 (12) TMI 34 - MADRAS High Court] order of ITAT confirmed. - Decided against the revenue.
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