https://www.taxtmi.com/caselaws?id=66577 The Tribunal upheld that the scheme run by the assessee qualified as a lottery under section 194B of the Income-tax Act, requiring tax deduction at source. It also ruled that the proceedings initiated under section 201 were not barred by limitation, considering the circumstances. Additionally, the Tribunal held that the subscribers to the scheme were liable to income tax, and the assessee was obligated to deduct tax at source. Consequently, the Tribunal dismissed both appeals and upheld the orders of the Assessing Officer demanding tax and interest. en-us Mon, 22 Feb 1999 00:00:00 +0530 Mon, 28 Feb 2011 13:11:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66577 The Tribunal upheld that the scheme run by the assessee qualified as a lottery under section 194B of the Income-tax Act, requiring tax deduction at source. It also ruled that the proceedings initiated under section 201 were not barred by limitation, considering the circumstances. Additionally, the Tribunal held that the subscribers to the scheme were liable to income tax, and the assessee was obligated to deduct tax at source. Consequently, the Tribunal dismissed both appeals and upheld the orders of the Assessing Officer demanding tax and interest. Case-Laws Income Tax Mon, 22 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66577