TMI Blog1998 (11) TMI 63X X X X Extracts X X X X X X X X Extracts X X X X ..... has been referred to us : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that P. George and eleven others who won the lottery of Rs. 11 lakhs were not assessable to income-tax in respect of the said lottery winning, in the status of body of individuals?" A group of 12 persons jointly purchased lottery tickets and one of the tick ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Income-tax Act, 1961, since the two conditions for assessing the income under the status of an association of persons (a) that there must be joint venture, and (b) that the object of the joint venture must be to earn income, had been satisfied and, therefore, the assessees were assessable in the status of association of persons. In the instant case, the two conditions are satisfied and, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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