https://www.taxtmi.com/circulars?id=10234 The tax authority, following advice from the Ministry of Law, advises that the disallowance provision in section 40A(3) does not apply to totalisator dividends paid by race clubs to holders of winning tickets, but the provision does apply to payments made by bookmakers; instructions should be issued to Income Tax Officers to apply this distinction in assessments. en-us Wed, 14 Aug 1974 00:00:00 +0530 Mon, 13 Jun 2011 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10234 The tax authority, following advice from the Ministry of Law, advises that the disallowance provision in section 40A(3) does not apply to totalisator dividends paid by race clubs to holders of winning tickets, but the provision does apply to payments made by bookmakers; instructions should be issued to Income Tax Officers to apply this distinction in assessments. Circulars Income Tax Wed, 14 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10234