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2014 (5) TMI 284 - ALLAHABAD HIGH COURTNature of income – Prize money received on unsold tickets – Business income OR income from any winnings from lotteries u/s 2(24)(ix) r. w section 115BB of the Act – Held that:- The amount of prize received on unsold lottery tickets is an income by way of winning prize from lottery - the prizes awarded to the assessee by draw of lots fall within the ambit of lottery and the amount gained falls within the ambit of income by way of winnings from lotteries - Section 115BB is a special provision under the Act to tax the income by way of winnings from lotteries – Decided against Assessee.
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