TMI BlogGross residuary income.X X X X Extracts X X X X X X X X Extracts X X X X ..... interest accrued to, or received by, financial institutions; (c) interest received on compensation or on enhanced compensation; (d) income from the activity of owning and maintaining horses for the purpose of horse race; (e) any amount received from employees as contributions to any fund set up for their welfare, if the income is not included under the head "Income from business"; (f) income from machinery, plant or furniture belonging to the person and let on hire, if the income is not included under the head "Income from business"; (g) any amount received under a keyman insurance policy including the sum allocated by way of bonus on such policy, if such income is not included under th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd rupees; and (iv) it has not been incurred in such cases and under such circumstances, as may be prescribed; (n) any amount found credited in the books of the person maintained for the financial year, if — (i) the person offers no explanation about the nature and source thereof; (ii) the person offers an explanation but fails to substantiate the explanation; or (iii) the explanation offered by him is, in the opinion of the Assessing Officer, not satisfactory; (o) the value of any investment made by the person in the financial year to the extent for which — (i) the person offers no explanation about the nature and source of the investments; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ination or forfeiture in respect of any agreement entered into by the person, if the amount is not included under the head 'income from business'; (u) any amount of attributable income of a controlled foreign company to a resident in accordance with the Twentieth Schedule (v) any amount received, as advance, security deposit or otherwise, from the long term leasing, or transfer of whole or part of, or any interest in, any investment asset; (w) amount of any benefit accrued to, or received by, the person, if the amount is not included under the head "Income from business" and if— (i) it is by way of remission or cessation of any liability including statutory liability or in respect of any loss or e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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