Income Tax Authorities Failed to Determine Whether Taxed Amount is Lottery Win or Corporate Gift: ITAT Sends Matter Back to AO for Fresh Consideration [Read Order]
Assessee reportedly won a bike through the scratch card, with the value being Rs. 31,900. Therefore, the assessee argued, it should not be taxed as lottery winnings.
By Adwaid M S - On May 8, 2025 3:12 pm - 2 mins read
The Income Tax Appellate Tribunal ( ITAT ), Ranchi Bench, has set aside an income tax demand after finding that the income tax authorities failed to clearly determine whether the taxed amount was lottery winnings or a gift. The tribunal has remanded the matter back to the Assessing Officer ( AO ) for fresh consideration….
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