Held that winnings from unsold lottery tickets are assessable as business Income. Followed Pooja Marketing v. PCIT (2021) 212 TTJ 306 (Mum)(Trib) Distinguished CIT v. Dr. M.A.M. Ramaswamy (2015) 128 DTR 265 (Mad) (HC). (AY. 2015-16, 2016-17)
Dy. CIT v. Pooja Marketing (2024) 232 TTJ 4 (UO) (Chennai) (Trib)
S. 28(i): Business income-income from other sources-Prize money from unsold lottery tickets-Winnings from unsold lottery tickets are assessable as business income. [S.2(24)(ix), 56(2)(ib)]
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