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TMI Blog2014 (5) TMI 284X X X X Extracts X X X X X X X X Extracts X X X X ..... - the prizes awarded to the assessee by draw of lots fall within the ambit of lottery and the amount gained falls within the ambit of income by way of winnings from lotteries - Section 115BB is a special provision under the Act to tax the income by way of winnings from lotteries – Decided against Assessee. - Income Tax Appeal No. - 83 of 2003 - - - Dated:- 2-5-2014 - Hon'ble Rajes Kumar A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the case, particularly that-- (a) the assessee had come into existence to deal in lottery tickets which constituted its stock in trade; (b) the business of dealing in tickets was its regular business activity and income received on such tickets formed part of regular business income assessable as such; (c) the cost of lottery tickets (including unsold lottery tickets) represented its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... material as had been placed on record? All the questions are co-related, relating to levy of tax on a sum of Rs.32,00,410/- under Section 115BB of the Act. The issue involved in the present appeal is squarely covered by the decision of this Court in Income Tax Appeal No. 34 of 2002, M/S J.N.Sharma, Kanpur vs. Asstt. Commissioner Of Income Tax, decided on date. All the questions are answe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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