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ITAT Bangalore: Only Net Winnings From Online Gaming Are Taxable, Not Gross Credits

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The Income Tax Appellate Tribunal (ITAT) in Bangalore has ruled that online gaming winnings should be taxed on a net basis, not on gross credits. The case involved a player who deposited Rs 2.61 crore into online games but incurred a net loss of Rs 28 lakh, yet the tax authority sought to levy tax on Rs 2.33 crore. The tribunal rejected the taxman's approach of taxing gross wallet credits or intermediate winnings shown during gameplay. ITAT held that only the actual net winnings represent the true taxable amount in such cases. The ruling is significant as it sets a precedent for how online gaming income is assessed for taxation purposes in India.

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