1989 (10) TMI 105

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Individuals. 2. Shri R. Ramasubbu and V. Bagavanth are two individuals who purchsed a lottery ticket from meghalaya, Assam. That ticket won a prize of Rs. 1 lakh in the draw held on 11th Dec., 1982. The two persons claimed half the proceeds of the winnings and were paid Rs. 45,000 each after deduction of the Commission, bonus etc. The ITO however, assessed the entire lottery winnings of Rs. 90....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....me only under the heads income from securities and income from other sources, as those incomes are earned from mere investments, in support of his conclusion, the AAC relied on the decision of the Gujarat High Court in the case of CIT vs. HARIVADAN TRIBHUVANDAS (1977) 106 ITR 494 (Guj) and of the Madras High Court in the case of CIT vs. DEGHAMWALA ESTATES (1980) 14 CTR (Mad) 284 : (1980) 121 ITR 6....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s income. He therefore, submitted that the AAC was not justified in annulling the assessment. Shri R. Venkataraman, the learned counsel for the assessee, relied on the order of the AAC and submitted that there was no ingredient in the activities carried on by these two individuals who were total strangers to constitute a body of individuals and that, therefore, the AAC had rightly annulled there a....