https://www.taxtmi.com/caselaws?id=8535 The High Court ruled in favor of the assessee, holding that the receipt of Rs. 10,900 through lucky draws was exempt under section 10(3) of the Income-tax Act. The Court determined that the activity did not constitute a business and fell within the exemption provisions. The Court upheld the Tribunal's decision, deleting the amount from the taxable income of the assessee and awarding costs of Rs. 150. en-us Thu, 22 Jul 1971 00:00:00 +0530 Wed, 29 Apr 2009 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8535 The High Court ruled in favor of the assessee, holding that the receipt of Rs. 10,900 through lucky draws was exempt under section 10(3) of the Income-tax Act. The Court determined that the activity did not constitute a business and fell within the exemption provisions. The Court upheld the Tribunal's decision, deleting the amount from the taxable income of the assessee and awarding costs of Rs. 150. Case-Laws Income Tax Thu, 22 Jul 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8535