https://www.taxtmi.com/caselaws?id=14362 The High Court held that the sum received by the assessee as a share of the first prize money from selling lottery tickets was taxable as it was part of the business activities and did not involve an element of chance. The Court disagreed with the Tribunal's decision, stating that the amount was received as per specified conditions for authorized agents and was not a casual or non-recurring receipt. Therefore, the Assessing Officer and the Appellate Assistant Commissioner were correct in their assessment that the sum was taxable income. en-us Tue, 09 Jan 2001 00:00:00 +0530 Wed, 15 Jul 2009 13:51:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14362 The High Court held that the sum received by the assessee as a share of the first prize money from selling lottery tickets was taxable as it was part of the business activities and did not involve an element of chance. The Court disagreed with the Tribunal's decision, stating that the amount was received as per specified conditions for authorized agents and was not a casual or non-recurring receipt. Therefore, the Assessing Officer and the Appellate Assistant Commissioner were correct in their assessment that the sum was taxable income. Case-Laws Income Tax Tue, 09 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14362