Taxability of gifts and undervalued transfers expanded to all assessees, broadening asset-based income inclusion under income tax law. Insertion of clause (x) in section 56(2) brings money, immovable property and other property received without consideration or for inadequate consideration within taxable income across all assessees where statutory thresholds are exceeded; it prescribes stamp duty value or aggregate fair market value as the measure, allows agreement-date valuation subject to payment conditions, permits Valuation Officer referral with application of sections 50C and 155(15) for valuation, and lists specified exceptions including relatives, marriage, inheritance, death-contemplation and exempt institutions. The amendment replaces earlier clause (vii) and clause (viia) and is prospective from the Bill's effective date.