US-based physicist earns ₹2.17 crore from credit card reward points

A US-based physicist earned ₹2.17 crore ($300,000) by using his credit card to purchase gift cards. According to reports, he would buy a gift card and encash it, before depositing the money back into his account and paying the credit card bill. The rewards he received from the company were his earnings. A judge ruled that these earnings were taxable.