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Income Tax - Highlights / Catch Notes

Home Highlights November 2019 Year 2019 This

Taxation of Value of 1 kg. of gold as winning from “Lottery” - ...

Income Tax

November 6, 2019

Taxation of Value of 1 kg. of gold as winning from “Lottery” - Essential ingredients of `lottery’ as it stood prior to the insertion of Explanation to section 2(24)(ix) of the I.T.Act is absent in the facts and circumstances of the case and the same cannot be taxed as a `lottery’

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