Definition of "income" u/s 2(24) and amendment to section 10(3) of Income-tax Act, 1961.

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..... 6 Section(s) Referred: 2(24) ,10(3) Statute: Income - Tax Act, 1961 Instances have come to the notice of the Board where value of trophies presented to the owners of winning horses have not been br .....

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..... perhaps arise. As these trophies are advertised at certain values by the Race Course Authorities, the Income-tax Officer may in assessing the value of the trophies be guided by the advertised value t .....

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