https://www.taxtmi.com/caselaws?id=156674 A lottery ticket was treated as conferring two distinct rights: a present right to participate in the draw, which is goods, and a contingent right to claim the prize, which is an actionable claim. The sale price therefore could not be taxed in full; only the portion referable to transfer of goods was taxable. The assessing authority was required to determine that taxable component with reference to relevant lottery statistics and material supplied by the dealer. The assessment and the Commissioner's clarification were unsustainable to the extent they treated the entire sale price as taxable, and the matter was remitted for fresh assessment on that basis. en-us Fri, 13 Mar 1992 00:00:00 +0530 Mon, 23 Sep 2013 15:34:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=156674 A lottery ticket was treated as conferring two distinct rights: a present right to participate in the draw, which is goods, and a contingent right to claim the prize, which is an actionable claim. The sale price therefore could not be taxed in full; only the portion referable to transfer of goods was taxable. The assessing authority was required to determine that taxable component with reference to relevant lottery statistics and material supplied by the dealer. The assessment and the Commissioner's clarification were unsustainable to the extent they treated the entire sale price as taxable, and the matter was remitted for fresh assessment on that basis. Case-Laws VAT and Sales Tax Fri, 13 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=156674