https://www.taxtmi.com/caselaws?id=180105 Receipts from horse-racing and betting were treated as income, but they were not shown to arise from a commercially organised business, profession or vocation. The activities could not be meaningfully split for tax characterisation, so the receipts fell under the residuary head of income from other sources rather than business or professional income. Because the gains depended on chance, they were treated as casual; their repeated occurrence did not convert them into recurring receipts. On that basis, the receipts fell within the exclusion for casual and non-recurring income and were not taxable in the assessee's hands. en-us Tue, 16 Feb 1960 00:00:00 +0530 Wed, 16 Mar 2016 17:23:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180105 Receipts from horse-racing and betting were treated as income, but they were not shown to arise from a commercially organised business, profession or vocation. The activities could not be meaningfully split for tax characterisation, so the receipts fell under the residuary head of income from other sources rather than business or professional income. Because the gains depended on chance, they were treated as casual; their repeated occurrence did not convert them into recurring receipts. On that basis, the receipts fell within the exclusion for casual and non-recurring income and were not taxable in the assessee's hands. Case-Laws Income Tax Tue, 16 Feb 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180105