https://www.taxtmi.com/caselaws?id=5418 SC held that the prize amount received by the assessee from a corporate entity and a motor rally is "income" within the wide, inclusive scope of s. 2(24) of the Income-tax Act. The Court ruled that "income" is of the widest amplitude and is not confined to the specific sub-clauses of s. 2(24); casual receipts also constitute income, subject to exemption limits under s. 10(3). The Tribunal and HC erred in treating the receipts as casual but non-income and in reading s. 2(24) as exhaustive. The question referred under s. 256(1) was answered in the negative, in favour of the Revenue, and the appeal was allowed. en-us Thu, 22 Apr 1993 00:00:00 +0530 Fri, 12 Dec 2025 00:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5418 SC held that the prize amount received by the assessee from a corporate entity and a motor rally is "income" within the wide, inclusive scope of s. 2(24) of the Income-tax Act. The Court ruled that "income" is of the widest amplitude and is not confined to the specific sub-clauses of s. 2(24); casual receipts also constitute income, subject to exemption limits under s. 10(3). The Tribunal and HC erred in treating the receipts as casual but non-income and in reading s. 2(24) as exhaustive. The question referred under s. 256(1) was answered in the negative, in favour of the Revenue, and the appeal was allowed. Case-Laws Income Tax Thu, 22 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5418