https://www.taxtmi.com/caselaws?id=14829 The High Court of Madras held that the assessee, who won a lottery, was not exempt from paying tax on the winnings by asserting an oral agreement to share the prize. The court deemed the oral agreement unconvincing since the ticket was bought with the assessee's own money and no external contributions were made. Consequently, the tax was correctly imposed on the assessee, and the entire prize amount is subject to taxation in his capacity as an individual. en-us Thu, 27 Aug 1998 00:00:00 +0530 Thu, 23 Jul 2009 15:29:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14829 The High Court of Madras held that the assessee, who won a lottery, was not exempt from paying tax on the winnings by asserting an oral agreement to share the prize. The court deemed the oral agreement unconvincing since the ticket was bought with the assessee's own money and no external contributions were made. Consequently, the tax was correctly imposed on the assessee, and the entire prize amount is subject to taxation in his capacity as an individual. Case-Laws Income Tax Thu, 27 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14829