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Income Tax - Highlights / Catch Notes

Home Highlights April 2013 Year 2013 This

Sale of the lottery tickets - point of sale - revenue ...


Court Examines Timing for Lottery Ticket Revenue Recognition: Point of Sale vs. Lottery Draw Date.

April 14, 2013

Case Laws     Income Tax     HC

Sale of the lottery tickets - point of sale - revenue recognition - till the date of the draw or just prior to the date of the draw it cannot be ascertained as to whether the dispatched tickets were actually sold or not - HC

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