Online Gaming Addition Deleted as Records Showed Net Loss Instead of Winnings

Emdarapu Kumaraswamy Vs ITO (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT), Hyderabad, considered an appeal against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), for Assessment Year 2022-23. The dispute concerned the addition of Rs.3,54,44,447 as winnings from online games under Section 115BB of the Income Tax Act and the disallowance of Rs.5,71,288 claimed under Chapter VI-A and Section 24(b). The assessee, an individual, filed a return declaring total income of Rs.15,62,200, comprising salary income and income from other sources. Th...