https://www.taxtmi.com/caselaws?id=65020 The Tribunal held that the income of Rs. 2,62,70,467 from unsold lottery tickets should be taxed as business income, not as winnings from lotteries. Consequently, the assessee was not eligible for a deduction under Section 80TT of the Income-tax Act, 1961. The decision was based on the nature of agreements with state governments and the financial responsibilities of the assessee, supported by legal precedents. en-us Tue, 08 Aug 2000 00:00:00 +0530 Fri, 11 Feb 2011 17:13:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65020 The Tribunal held that the income of Rs. 2,62,70,467 from unsold lottery tickets should be taxed as business income, not as winnings from lotteries. Consequently, the assessee was not eligible for a deduction under Section 80TT of the Income-tax Act, 1961. The decision was based on the nature of agreements with state governments and the financial responsibilities of the assessee, supported by legal precedents. Case-Laws Income Tax Tue, 08 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65020