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The appeals filed by Tamil Nadu and Karnataka have now been clubbed by the Supreme Court and will be subsequent heard with each other in mid-November 2022 . Under the TN Ordinance, banks, monetary institutions and payment gateways have been prohibited from processing any transfer of funds for on-line gambling and true-money online games of possibility. Under the Black Cash and Imposition of Tax Act, 2015 (“Black Revenue Act”), the Central Board of Direct Taxes (“CBDT”) issued a circular providing clarifications pertaining to the Black Dollars Act. According to the circular, a virtual/e-wallet account is treated like a bank account where inward and outward money movement takes location from the account. For that reason, the valuation and declaration of an e-wallet account could be produced as in the case of a bank account.
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