https://www.taxtmi.com/caselaws?id=66924 The Tribunal ruled in favor of the assessee, a household lady who won an Ambassador car in a competition, stating that the receipt was not taxable under section 2(24)(ix) of the Income-tax Act, 1961. The Tribunal held that the receipt did not qualify as "winnings" as it was earned through skill and intelligence, not chance. Additionally, the Tribunal relied on Circular No. 158 issued by the CBDT, determining that the receipt was not of a casual or non-recurring nature and should not be considered as taxable income. Consequently, the appeal was allowed, and the addition to the assessee's taxable income was deemed incorrect. en-us Wed, 10 Feb 1982 00:00:00 +0530 Tue, 08 Mar 2011 11:38:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66924 The Tribunal ruled in favor of the assessee, a household lady who won an Ambassador car in a competition, stating that the receipt was not taxable under section 2(24)(ix) of the Income-tax Act, 1961. The Tribunal held that the receipt did not qualify as "winnings" as it was earned through skill and intelligence, not chance. Additionally, the Tribunal relied on Circular No. 158 issued by the CBDT, determining that the receipt was not of a casual or non-recurring nature and should not be considered as taxable income. Consequently, the appeal was allowed, and the addition to the assessee's taxable income was deemed incorrect. Case-Laws Income Tax Wed, 10 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66924