https://www.taxtmi.com/caselaws?id=303413 The Tribunal held that gross collections must be considered as the income of the assessee, rejecting the concept of overriding title. Ad-hoc disallowance of winnings payments less than Rs. 2,500 each was deleted as the assessee had proper record-keeping. Regarding disallowance under Section 40A(3) for cash payments exceeding Rs. 20,000, the matter was remanded for further examination. The outcome resulted in the partial allowance of the assessee's appeals for statistical purposes, while the Revenue's appeals were dismissed. en-us Fri, 26 Sep 2008 00:00:00 +0530 Thu, 21 Jul 2022 11:11:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303413 The Tribunal held that gross collections must be considered as the income of the assessee, rejecting the concept of overriding title. Ad-hoc disallowance of winnings payments less than Rs. 2,500 each was deleted as the assessee had proper record-keeping. Regarding disallowance under Section 40A(3) for cash payments exceeding Rs. 20,000, the matter was remanded for further examination. The outcome resulted in the partial allowance of the assessee's appeals for statistical purposes, while the Revenue's appeals were dismissed. Case-Laws Income Tax Fri, 26 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303413