https://www.taxtmi.com/caselaws?id=36741 The court ruled in favor of the assessee, holding that the sum of Rs. 22,000 received was not taxable under section 2(24)(ix) of the Income Tax Act. The court determined that the amount did not qualify as "winnings" from a race or game of chance but rather resulted from skill and effort, making it exempt from taxation. The court emphasized that the legislative intent was to tax windfalls or chance winnings, which did not apply in this case. Consequently, the court answered the question in favor of the assessee, awarding costs accordingly. en-us Tue, 20 Nov 1979 00:00:00 +0530 Fri, 28 Mar 2025 17:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36741 The court ruled in favor of the assessee, holding that the sum of Rs. 22,000 received was not taxable under section 2(24)(ix) of the Income Tax Act. The court determined that the amount did not qualify as "winnings" from a race or game of chance but rather resulted from skill and effort, making it exempt from taxation. The court emphasized that the legislative intent was to tax windfalls or chance winnings, which did not apply in this case. Consequently, the court answered the question in favor of the assessee, awarding costs accordingly. Case-Laws Income Tax Tue, 20 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36741