prizes to the winners. In other words the AO noted that the financial responsibility to provide the prize money as per the scheme ... prize money;
(2) paper, printing; and
(3) royalty.
8. The AO noted that though the assessee claimed prize money as per the scheme, this liability
really worth winning prizes. The first prize was Rs. 2 lakhs, second prize was 1 lakh and the third prize was Rs. 50,000 under ... assessee by chance won a prize of Rs. 50,000 in the Small Savings Prize Deposit Scheme.
13. In view of the amendment made
instant case amounts were advanced to the prizing subscribers through a scheme of competitive bidding whereas it was not so in the case before ... Court has observed that unless amounts are advanced to the prizing subscribers through a scheme of competitive bidding or by drawing lots, there would
explaining the word "lottery" to be a "scheme for distribution of prizes by draw or chance". Shri Santhanam placed strong reliance
agents and seller of the prize winning ticket out of Bumper Prize of Rs. 12 lakhs, as per scheme of the weekly lottery. Shri Gupta ... under unusual and abnormal circumstances. As per scheme of the weekly lottery claimed in respect of first prize winning ticket should have been lodged within
Bombay.
(iii) Shri Rattan Khatri stated in his statement that since the prize money was a huge sum, he thought he would make joint claim ... ticket was an unsold ticket-
1. As per the scheme of the draw, the following prizes were to be given excluding the first prize
winnings from prizes awarded to any person by draw of lots or by chance or in any other manner whatsoever, under any scheme or arrangement ... programme on television or electronic mode, in which people compete to win prizes or any other similar game;
(x) any sum received by the assessee
winnings from prizes awarded to any
person by draw of lots or by chance or in any other manner
whatsoever, under any scheme or arrangement ... programme on television or electronic
mode, in which people compete to win prizes or any other
similar game;
(x) any sum received by the assessee
chit agreement", "discount", "dividend", "prize amount", "prized subscriber", "subscriber", "ticket" have been ... immediately following installment. "Prize amount" means the difference between the chit amount and the discount. "Prized subscriber" means the subscriber
Remarks
Brand Promotion
expenses
0% Finance Scheme 3,612,175 3,612,175 Cost of 10%
Finance Scheme
offered to
customers.
Dealer expenses ... Sales promotions
activities.
Printing of materials 5,046,684 5,046,684
Prize 2,337,916 2,337,916
Sales Counter
