https://www.taxtmi.com/caselaws?id=39070 The High Court upheld the validity of clause (ix) of section 2(24) of the Income-tax Act, ruling that Parliament had the legislative competence to levy tax on income from winnings in horse races. The court emphasized Parliament's exclusive authority to tax income other than agricultural income and highlighted the broad interpretation of the term "income." Drawing on relevant case law, the court dismissed the petitioner's challenge, affirming Parliament's power to tax horse race winnings and ordering costs to be paid by the petitioner. en-us Tue, 15 Jun 1976 00:00:00 +0530 Mon, 12 Apr 2010 13:20:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39070 The High Court upheld the validity of clause (ix) of section 2(24) of the Income-tax Act, ruling that Parliament had the legislative competence to levy tax on income from winnings in horse races. The court emphasized Parliament's exclusive authority to tax income other than agricultural income and highlighted the broad interpretation of the term "income." Drawing on relevant case law, the court dismissed the petitioner's challenge, affirming Parliament's power to tax horse race winnings and ordering costs to be paid by the petitioner. Case-Laws Income Tax Tue, 15 Jun 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39070