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Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Only real net winnings from online gaming constitute taxable income; gross wallet credits, recycled funds and transactional movements do not by themselves establish income. The note explains that taxable winnings must be determined after adjusting buy-in or deposit amounts, and that the bar on expenditure deductions applies only after real income by way of winnings is identified. It describes the subsequent online-gaming tax and TDS framework, which accounts for deposits, withdrawals and user-account balances, as clarifying this approach. Applying principles governing stake reduction in gaming transactions, it states that where buy-ins exceed gross winnings, no taxable net winnings arise and an addition based solely on gross wallet winnings is unsustainable.
Only real net winnings from online gaming constitute taxable income; gross wallet credits, recycled funds and transactional movements do not by themselves establish income. The note explains that taxable winnings must be determined after adjusting buy-in or deposit amounts, and that the bar on expenditure deductions applies only after real income by way of winnings is identified. It describes the subsequent online-gaming tax and TDS framework, which accounts for deposits, withdrawals and user-account balances, as clarifying this approach. Applying principles governing stake reduction in gaming transactions, it states that where buy-ins exceed gross winnings, no taxable net winnings arise and an addition based solely on gross wallet winnings is unsustainable.
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