Income from other sources: non exhaustive categories and valuation rules determine taxability of miscellaneous receipts. Income not chargeable under specified heads is taxable under Income from other sources, with an illustrative non exhaustive list including dividends; lottery and game winnings; certain employee fund receipts; Keyman and life insurance proceeds subject to exclusions; interest on securities; income from hiring machinery, plant, furniture and inseparable building lettings; forfeited advances during failed asset transfer negotiations; interest on compensation; termination or modification of employment payments; specified distributions from business trusts computed as A-B-C; and taxation of gratuitous or undervalued transfers subject to stated exemptions and valuation rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Income from other sources: non exhaustive categories and valuation rules determine taxability of miscellaneous receipts.
Income not chargeable under specified heads is taxable under Income from other sources, with an illustrative non exhaustive list including dividends; lottery and game winnings; certain employee fund receipts; Keyman and life insurance proceeds subject to exclusions; interest on securities; income from hiring machinery, plant, furniture and inseparable building lettings; forfeited advances during failed asset transfer negotiations; interest on compensation; termination or modification of employment payments; specified distributions from business trusts computed as A-B-C; and taxation of gratuitous or undervalued transfers subject to stated exemptions and valuation rules.
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