https://www.taxtmi.com/caselaws?id=69527 The case involved the assessment of lottery winnings in the hands of an individual versus sharing among family members based on an oral agreement. The court upheld the tax assessment on the entire prize in the individual's hands due to insufficient evidence supporting the oral agreement. The judgment emphasized the importance of providing credible evidence, especially in cases involving oral agreements, to establish claims impacting tax liabilities. The burden of proof rests on the taxpayer to substantiate agreements affecting tax assessments with a reasonable degree of probability. en-us Fri, 07 Oct 1988 00:00:00 +0530 Thu, 07 Apr 2011 14:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69527 The case involved the assessment of lottery winnings in the hands of an individual versus sharing among family members based on an oral agreement. The court upheld the tax assessment on the entire prize in the individual's hands due to insufficient evidence supporting the oral agreement. The judgment emphasized the importance of providing credible evidence, especially in cases involving oral agreements, to establish claims impacting tax liabilities. The burden of proof rests on the taxpayer to substantiate agreements affecting tax assessments with a reasonable degree of probability. Case-Laws Income Tax Fri, 07 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69527