KANCHANLAL MAGANLAL KAPADIA Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THIS petition is filed by one Shri Kanchanlal Maganlal Kapadia and 14 others challenging the action of the respondent in issuing notice under Section 148 of the Income-tax Act, 1961 (the Act) in the name and style of Shri Kanchanlal Maganlal Kapadia and 14 others members (A. O. P.) for Assessment Year 1986-1987.

(2.) THE facts which are not in dispute are that all the 15 persons jointly purchased lottery tickets, each having an equal share therein i. e. 1/15th each. Out of many tickets so purchased by the 15 individuals, one lottery ticket turned out to be a winning ticket bearing No. JM 2606390 for a sum of Rs. 25,00,000/ -. In the return of income filed by Shri Kanchanlal Maganlal (Individual) under the head "income from Other Sources" income from winning of lottery at 1/15th share to the tune of Rs. 1,66,667/- was shown and statutory deduction therefrom was claimed. The Assessing Officer vide notice dated 142 (1) of the Act along with letter of the same date called for following particulars:

(3.) IT is your claim that you have only 1/15th interest in prize Winning lottery. You are requested to give names of other 14 persons who as per your claim have shared prize with you with their interest. Their complete address and Permanent Account Number should also be given, if they are assessed to tax.