https://www.taxtmi.com/caselaws?id=331467 The court ruled in favor of the appellant, a trustee of Neha Trust, in a case concerning wealth tax liability on lottery income. The court found that the lottery prize was won in the individual capacity of the appellant, not the Trust, and accepted that taxes were paid by other beneficiaries. It concluded that the appellant was not liable to pay tax, directing refunds of TDS and tax collected. The court also clarified that the appellant should not pay tax on the entire lottery income as it was received by the trust, not the individual, and addressed errors in the authorities' decision. en-us Mon, 01 Aug 2016 00:00:00 +0530 Tue, 23 Aug 2016 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331467 The court ruled in favor of the appellant, a trustee of Neha Trust, in a case concerning wealth tax liability on lottery income. The court found that the lottery prize was won in the individual capacity of the appellant, not the Trust, and accepted that taxes were paid by other beneficiaries. It concluded that the appellant was not liable to pay tax, directing refunds of TDS and tax collected. The court also clarified that the appellant should not pay tax on the entire lottery income as it was received by the trust, not the individual, and addressed errors in the authorities' decision. Case-Laws Income Tax Mon, 01 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331467