ISSUE 5 RESPONDENT

56. Income from other sources.--(1) Income of every kind which is not to be excluded from
the total income under this Act shall be chargeable to income-tax under the head "Income
from other sources" if it is not chargeable to income-tax under any of the heads specified
in section 14, items A to E. "
A plain reading of the above provision show that not every receipt is taxable under the head '
Income from other sources ' but only those which can be shown as ' Income ' can be brought
to tax under this head , if it does not fall directly under other heads of income specified in
sec. 14 of the Act.
56vii(b) any immovable property,--
(i) without consideration, the stamp duty value of which exceeds fifty thousand rupees, the
stamp duty value of such property