CIT v. Tilak Raj Kalra (2012) 206 Taxman 126 / 249 CTR 205/69 DTR 363(P&H.)(High Court)
The Assessee subscribed to PPF which formed part of Small Savings Scheme encouraged by
Government of Punjab. The Govt issued lucky coupon on every investment of Rs.5,000/-. The
Assessee also received lucky coupon which won the prize of 1kg gold. The Assessing officer held
that the price money won by assessee fell within the meaning of section 2(24)(ix) and made
addition as income. On Appeal, the CIT(A) as well as the Tribunal deleted the addition. On
appeal, the High Court, confirmed the view of the Tribunal and held that incentive price received
by assessee on account of coupon given on the strength of small saving certificate would not fall
within the definition of lottery and would not be included as income as per section 2(24)(ix).
The Assessee subscribed to PPF which formed part of Small Savings Scheme encouraged by
Government of Punjab. The Govt issued lucky coupon on every investment of Rs.5,000/-. The
Assessee also received lucky coupon which won the prize of 1kg gold. The Assessing officer held
that the price money won by assessee fell within the meaning of section 2(24)(ix) and made
addition as income. On Appeal, the CIT(A) as well as the Tribunal deleted the addition. On
appeal, the High Court, confirmed the view of the Tribunal and held that incentive price received
by assessee on account of coupon given on the strength of small saving certificate would not fall
within the definition of lottery and would not be included as income as per section 2(24)(ix).
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