2008 (1) TMI 871

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.... further appeal by the Tribunal, Bangalore Bench. All the aforesaid orders are subject-matter of challenge in this appeal. 3. Facts, in short, are as under: "Appellant assessee was a professor and was the Head of Department in Mechanical Engineering section of JNN College of Engineering, Shimoga and was assessed to tax with the ITO, Ward (3), Shimoga. The assessee had purchased National Savings Certificates (in short "NSC") during the financial year 1992-93. The Directorate of Small Savings, Government of Karnataka, as a measure to encourage small savings, amongst the public framed a scheme under which it offered different prizes to the persons who had made investment in a small savings scheme through a lucky draw. By virtue of the pu....

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....award received by the appellant/assessee constitutes lottery income on the facts and in the circumstances of the case? 2. Whether the Tribunal was right in law in holding that purchase of National Savings Certificates by the appellant/assessee constitutes payment of consideration to participate in the lottery?" 6. Even though more substantial questions of law have been formulated by the appellant in the memo of appeal, however after having heard the learned counsel for the parties and after perusal of the record, we are of the considered opinion that only the aforesaid two questions of law as formulated above would arise for our consideration. 7 The aforesaid questions of law which have been projected hereinabove stand squarely ans....

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....added below section 2(24)(ix), which Explanation reads thus: "Explanation : For the purposes of this sub-clause, (i) 'lottery' includes winnings from prizes awarded to any person by draw of Ms or by chance or in any other manner whatsoever, under any scheme or arrangement by whatever name called; (ii) 'card game and other game of any sort' includes any game show, an entertainment programme on television or electronic mode, in which people compete to win prizes or any other similar game;" The aforesaid amendment would show that it does not have any retrospective effect It has been made applicable prospectively. Thus these amendments have no application to the facts of the instant case, as it pertains to the assess....