https://www.taxtmi.com/caselaws?id=247357 The High Court upheld the Tribunal's decision to levy tax on prize money from unsold lottery tickets as casual income under Section 115BB of the Income Tax Act for the assessment year 1992-93. The Court dismissed the appeal, citing a similar precedent and ruling in favor of the revenue, affirming that the income should be categorized as casual income from winning lotteries rather than part of the regular business income of the assessee. en-us Fri, 02 May 2014 00:00:00 +0530 Fri, 09 May 2014 10:48:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247357 The High Court upheld the Tribunal's decision to levy tax on prize money from unsold lottery tickets as casual income under Section 115BB of the Income Tax Act for the assessment year 1992-93. The Court dismissed the appeal, citing a similar precedent and ruling in favor of the revenue, affirming that the income should be categorized as casual income from winning lotteries rather than part of the regular business income of the assessee. Case-Laws Income Tax Fri, 02 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247357