Income by way of stake money - Definition / Legal Terminology - Income Tax

Explanation (c) -For the purposes of sub-section (3) of section 74A of the Income tax Act 1961- Income by way of stake money means - the gross amount of prize money received on a race horse or race horses by the owner thereof on account of the horse or horses or any one or more of the horses winning or being placed second or in any lower position in horse races.