2001 PLP 2469 (PTD)
COMMISSIONER OF INCOME-TAX Versus LACHHMAN DAS VEERABHANDAS
| Citation | 2001 PLP 2469 (PTD) |
| Forum / Court | 247 ITR 810 |
| Bench Members | Suhas C. Sen and S.S.M. Quadri, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus LACHHMAN DAS VEERABHANDAS |
| Primary Law | (a) Income-tax, (b) Income-tax |
Q1: What are the key laws and sections cited in 2001 PLP 2469 (PTD)?
This judgment primarily cites: (a) Income-tax, (b) Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2001 PLP 2469 (PTD)?
The case was heard and decided by the 247 ITR 810 bench comprising: Suhas C. Sen and S.S.M. Quadri, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2001 PLP 2469 (PTD) (COMMISSIONER OF INCOME-TAX Versus LACHHMAN DAS VEERABHANDAS). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- K.N. Shukla, Senior Advocate (Hemant Sharma and B.K. Prasad, Advocates with him) for Appellant.
- Ms. Kamini Jaiswal, Advocate for Respondent.
Headnotes / Summary
(Appeal by special leave from the judgment and order, dated July 30, 1980 of the Karnataka High Court in I.T.R. C. Nos. 107 and 108 of 1977).
Income from other sources
Jackpot winnings
Credited in business accounts--Nature of Jackpot winnings as income from other sources does not change
Indian Income Tax Act, 1961, Ss.2(24)(ix), 3 & 56(2)(ib).
Casual and non-recurring receipt
Receipt assessable in 1972-73
Limit of exemption to Rs.1,000 does not apply
Indian Income Tax Act, 1961, S.10(3)
Indian Finance Act, 1972, S.59. From the decision of the Karnataka High Court (see (1981) 128 ITR 606) to the effect that (i) Jackpot winnings were income from other sources and merely because they were credited by the assessee in his business accounts that did not change the character of the Jackpot winnings as income from other sources and the previous year for those winnings would be the financial year and (ii) that the restriction in section 10(3) of the Income Tax Act, 1961, limiting the exemption of casual and non-recurring receipts to Rs.1,000, was not attracted to the assessment year 1972-73, an appeal was taken to the Supreme Court. The Supreme Court dismissed the appeal. CIT v. Lachmandas Veerbhandas (1981) 128 ITR 606 affirmed.
Judgment & Decree
(a) Income‑tax‑‑‑ ‑‑‑‑Previous year‑‑‑Income from other sources‑‑‑Jackpot winnings‑‑‑Credited in business accounts‑‑Nature of Jackpot winnings as income from other sources does not change‑‑‑Indian Income Tax Act, 1961, Ss.2(24)(ix), 3 & 56(2)(ib). (b) Income‑tax‑‑‑ ‑‑‑‑Casual and non‑recurring receipt‑‑‑Receipt assessable in 1972‑73‑‑‑Limit of exemption to Rs.1,000 does not apply‑‑‑ Indian Income Tax Act, 1961, S.10(3)‑‑‑Indian Finance Act, 1972, S.59. From the decision of the Karnataka High Court (see (1981) 128 ITR 606) to the effect that (i) Jackpot winnings were income from other sources and merely because they were credited by the assessee in his business accounts that did not change the character of the Jackpot winnings as income from other sources and the previous year for those winnings would be the financial year and (ii) that the restriction in section 10(3) of the Income Tax Act, 1961, limiting the exemption of casual and non‑recurring receipts to Rs.1,000, was not attracted to the assessment year 1972‑73, an appeal was taken to the Supreme Court. The Supreme Court dismissed the appeal. CIT v. Lachmandas Veerbhandas (1981) 128 ITR 606 affirmed. K.N. Shukla, Senior Advocate (Hemant Sharma and B.K. Prasad, Advocates with him) for Appellant. Ms. Kamini Jaiswal, Advocate for Respondent. The civil appeal is dismissed. There shall be no order as to costs. M.B.A./1001/FC Appeal dismissed.