Taxability of trophies: non monetary awards are income and should be valued by advertised racecourse values for assessment. Taxability of trophies presented to winning horse owners is governed by the amended definition of income and the consequential amendment to section 10(3), bringing such trophies within assessable income. For assessment, valuation should ordinarily follow the values advertised by the Race Course Authorities, with Income tax Officers guided by the advertised value rather than making independent valuations.