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“income from other sources”

Income HeadsSection 56Section 568,248 judgments

The decision most relied on for income from other sources is Jute Corporation of India Ltd. v. CIT (187 ITR 688), cited in 1,372 judgments on BharatTax.

Leading authorities on income from other sources

Jute Corporation of India Ltd. v. CIT
187 ITR 688 · 1991 · Supreme Court
1,372
citing judgments

The Commissioner of Income Tax (Appeals) possesses co-terminus powers with the Assessing Officer and can direct the Assessing Officer to perform actions he failed to do, but cannot introduce a new source of income in the assessment. The appellate assessment must be confined to the items of income that were the subject matter of the original assessment.

Totgars Co-operative Sale Society Ltd. v. ITO
322 ITR 283 · 2010 · Supreme Court
1,283
citing judgments

The interest income earned by a cooperative society from investing its surplus funds in fixed deposits with banks is not "derived from" its eligible business activities and is taxable as "income from other sources" under Section 56, thus not qualifying for deduction under Section 80P.

K.P. Varghese v. ITO
131 ITR 597 · 1981 · Supreme Court
989
citing judgments

An addition to income cannot be made merely on the basis of a difference in valuation of assets or a Valuation Officer's report without establishing actual understatement of consideration or the source of unexplained funds through proper enquiry. The Assessing Officer must conduct proper enquiry and satisfy the conditions for making such additions.

GE India Technology Centre Pvt. Ltd. v. CIT
327 ITR 456 · 2010 · Supreme Court
663
citing judgments

Tax must be deducted at source from payments made to a non-resident under Section 195 only if such payment is chargeable to tax in India. The Assessing Officer bears the onus to establish that the payments made are indeed chargeable to tax under the Income Tax Act.

Commissioner of Income Tax v. Nova Promoters and Finlease (P) Ltd.
342 ITR 169 · 2012 · High Court
658
citing judgments

To make an addition under Section 68 for unexplained cash credits, the Assessing Officer must conduct proper inquiry into the identity, genuineness, and creditworthiness of the creditor, especially concerning share application money. The assessee's initial discharge of burden by providing necessary details shifts the onus back to the AO for further investigation, including the source of source.

Tuticorin Alkali Chemicals & Fertilizers Ltd. v. CIT
227 ITR 172 · 1997 · Supreme Court
621
citing judgments

Interest income earned on deposits, particularly before the commencement of business operations or as a requirement for business licensing, is taxable as "income from other sources" under Section 56, and cannot be treated as business income or set off against interest on borrowed funds.

Kale Khan Mohammad Hanif v. CIT
50 ITR 1 · 1963 · Supreme Court
581
citing judgments

The assessee bears the onus of proving the source and nature of any sum of money or receipt found to have been received by them. If the assessee fails to satisfactorily explain the receipt, the Income-tax Officer is entitled to treat it as taxable income.

Liberty India v. CIT
317 ITR 218 · 2009 · Supreme Court
571
citing judgments

The Supreme Court clarified that for profits and gains to be eligible for deductions under sections like 10B, 80IA, or 80IB, the income must be "derived from" or have a direct nexus to the eligible business activity. Income from incidental sources like the sale of scrips/licenses or interest on employee loans is generally not considered as derived from the eligible business for such deductions.

Judgments citing income from other sources

Oceaneering International Gmbh, Mumbai vs. DCIT(Int. Taxation)Range-3(2)(2), Mumbai

ITA 802/MUM/2025[2022-23]Status: DisposedITAT Mumbai03 Apr 2025AY 2022-23

Bench: Shri Pawan Singh & Ms. Padmavathy S

For Appellant: Shri Abdul Kadir Jawadwala ARFor Respondent: Shri Krishna Kumar, Sr. DR
Section 143(3)Section 144C(13)Section 145ASection 153Section 254(1)Section 44B

purposes of computation of income chargeable to income-tax under the head "Profits and gains of business or profession" or "Income from other sources" 39.2 In order to bring certainty in the wake of recent judicial pronouncements on the issue of applicability of ICDS- (v) Section 145A of the Income

Utility Supply Private Limited, Mumbai vs. DCIT Central Circle 8(4) Mumbai, Mumbai

ITA 3585/MUM/2024[2017-18]Status: DisposedITAT Mumbai03 Apr 2025AY 2017-18

Bench: Shri Narender Kumar Choudhry & Ms. Padmavathy S

For Appellant: Shri Dhaval Shah, Ld. A.RFor Respondent: Ms. Smiti Samant, Ld. D.R
Section 132Section 143(1)Section 153ASection 250Section 56(2)(via)Section 56(2)(viia)

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “F”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND MS. PADMAVATHY

Acron Hospitaliy Private Limited, Mumbai vs. Principle Commissioner of Income Tax -6, Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1277/MUM/2024[2015-16]Status: DisposedITAT Mumbai03 Apr 2025AY 2015-16

Bench: Ms. Kavitha Rajagopal, Jm & Shri. Omkareshwar Chidara, Am

Section 143(2)Section 143(3)Section 263Section 56(2)(viib)

prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to income-tax under the head "Income from other sources", namely :— (vii) where an individual or a Hindu undivided family receives, in any previous year, from any person or persons on or after ... aggregate consideration if found to be in excess of the fair market value of the share shall be chargeable to tax as income from other sources. The very edifice of this provision is for determination of the valuation of shares and by no stretch of imagination pertains to the genuinity

Sher Singh, Panipat vs. Income Tax Officer Ward-1, Panipat

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 2771/DEL/2023[2019-20]Status: DisposedITAT Delhi03 Apr 2025AY 2019-20

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshsher Sngh, Vs. Income Tax Officer, 81, Aji Julapur, Nurwala, Ward-1, Panipat Panipat 132103 (Appellant) (Respondent) Pan:Hxgps8392D

For Appellant: Shri Somil Agarwal, AdvFor Respondent: Ms. Jaya Chaudhary, CIT (DR)
Section 10(37)Section 144Section 56(2)(viii)Section 57

such sum would be allowed as deduction and remaining 50% of Rs 3,64,09,216/- was brought to tax under the head ‘income from other sources’. 5. Before the Learned CIT(A), the assessee furnished additional evidences in terms of Rule 46A of the Income Tax Rules by furnishing ... claim of exemption under Section 10(37) of the Act and for non-taxability of the interest income on enhanced compensation under income from other sources. The Learned CIT(A), though sought for a remand report from the Learned AO by giving several opportunities to the Learned AO, no remand

Shiv Narayan, Haryana vs. DCIT, Circle-3(1), Haryana

In the result, appeal of the assessee is allowed

ITA 2196/DEL/2022[2018-19]Status: DisposedITAT Delhi03 Apr 2025AY 2018-19

Bench: Shri Satbeer Singh Godara & Shri M. Balaganeshassessment Year: 2018-19 Sh. Shiv Narayan, Vs. Dcit, H. No. 137, V & Po, Circle-3(1), Shikohpur, Haryana Gurgaon, Haryana Pan:Akfpn6891B (Appellant) (Respondent)

Section 10(37)Section 142(1)Section 143Section 143(1)(a)Section 143(2)Section 143(3)Section 263Section 28Section 56(2)(viii)Section 57

taxmann.com 301 (Del.) wherein the department has succeeded before their lordships that the impugned interest component ought to be assessed as income from “other” sources only. 5. We have given my thoughtful consideration to the assessee’s pleadings and Revenue’s foregoing vehement contentions. It emerges that this tribunal ... capital receipt' forming part of enhanced compensation as envisaged in section 45(5) of the Act to 'revenue receipt' chargeable to tax as income from other sources. The view taken by the Ld. AO that interest under section 28 of Land Acquisition Act received by the assessee is exempt under

Bhoop Singh, Mathura vs. ITO Ward -1(3)(1), Mathura

In the result, the appeal is allowed for statistical purposes

ITA 24/AGR/2025[2016-17]Status: DisposedITAT Agra02 Apr 2025AY 2016-17

Bench: : Shri Sunil Kumar Singh & Shri Brajesh Kumar Singh

Section 143(3)Section 250(6)

details furnished by the assessee, made an addition of Rs.14,90,059/- in the hands of the assessee under the head “income from other sources”, which stood confirmed by the Id. CIT(Appeals) vide impugned order dated 21.11.2024 passed in first appeal filed by the appellant/assessee. 3. We have perused

The Koothattululam Farmers Service Co-Operative Bank Ltd, Ernakulam vs. ITO, Ward 1 & Tps, Thodupuzha

In the result, appeal filed by the assessee allowed for statistical purposes

ITA 892/COCH/2024[2021-22]Status: DisposedITAT Cochin02 Apr 2025AY 2021-22

Bench: Shri George George K., Vp & Shri Inturi Rama Rao, Am Assessment Year: 2021-22 Koothattukulam Farmers Service .......... Appellant Co-Op. Bank Ltd. Koothattukulam P.O., Ernakulam 686662 [Pan: Aaaat3230A] Vs. The Income Tax Officer .......... Respondent Ward -1 & Tps, Thodupuzha Appellant By: Shri C.A. Jojo, Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 02.04.2025 Date Of Pronouncement: 02.04.2025

For Appellant: Shri C.A. Jojo, CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 250Section 56Section 80PSection 80P(2)(d)

disallowing the deduction u/s. 80P and making addition of interest income received from investment with banks treating the same as ‘income from other sources’ u/s. 56 of the Act. The total income computed in the assessment completed u/s. 143(3) of the Act was at Rs.60,46,520/-. 4. Aggrieved

P Abdul Kareem, Kozhikode vs. ITO Ward 2(3), Kozhikode

In the result, appeal filed by the assessee is partly allowed for statistical purposes

ITA 255/COCH/2023[2014-15]Status: DisposedITAT Cochin02 Apr 2025AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Keshav Dubeyassessment Year: 2014-15 P Abdul Kareem Puthenveetil House Thamarassery Ito Vs. Kozhikode Ward-2(3) Kerala 673 573 Kozhikode Pan No :Ajfpa2972D Appellant Respondent

For Appellant: Shri Rishal K., A.RFor Respondent: Smt. Leena Lal, Sr. D.R
Section 142(1)Section 143(1)Section 143(3)Section 250Section 250(6)

flow statement held that there is a shortage of cash amounting to Rs. 53,65,000/- which is assessed as unexplained cash under income from other sources. Further, in the cash flow, the assessee declared deposits of Rs. 62,69,000/- from four persons but the AO held that ... absence of confirmation, source and nature of the amount of these credits, the entire amount represents income taxable under the income from other sources. Lastly, the AO added Rs. 14,442/- as interest from Saving bank account under income from other sources and assessed on a total income

Anil Kumar Gupta, Bhopal vs. ITO, 4(3), Bhopal, Office of ITO Bhopal

Appeal is allowed for statistical purpose

ITA 367/IND/2023[2017-18]Status: DisposedITAT Indore02 Apr 2025AY 2017-18

Bench: Shri B.M. Biyani & Shri Paresh M. Joshi

Section 143(3)Section 24Section 69A

justified in confirming the addition of Rs. 17,45,421/ considering it as income from undisclosed sources. 6. The Ld. CIT(A) was not justified in confirming the addition of Rs. 1,70,85,9407 u/s 69A as undisclosed investment.” Ground No. 1 & 2: 4. These are legal grounds challenging ... modified the taxability head from Page 6 of 22 Anil Kumar Gupta ITA No. 367/Ind/2024 - AY 2017-18 “Income from House Property” to “Income from Other Sources” and accordingly disallowed the standard deduction of Rs. 9,076/- claimed by assessee u/s 24(a). Further, the AO allowed proportionate interest deduction

Asstt. Commissioner of Income Tax, CC-1, Lucknow, Aayakar Bhawan, Ashok Marg vs. Apco Infratech Pvt. Ltd., Vibhuti Khand Gomti Nagar Lko

In the result, appeals vide

ITA 623/LKW/2024[2018-19]Status: DisposedITAT Lucknow02 Apr 2025AY 2018-19

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

than the quantum of deduction determined under Section 80-IA of the Act. The Assessee contends that income from all other heads including ‘income from other sources’, in addition to ‘business income’, have to be taken into account for the purpose of allowing the deductions available to the Assessee, subject

M/S Apco Infratech Pvt. Ltd., Lucknow vs. D/ACIT-1, Central-1, Lucknow

In the result, appeals vide

ITA 17/LKW/2024[2018-19]Status: DisposedITAT Lucknow02 Apr 2025AY 2018-19

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

than the quantum of deduction determined under Section 80-IA of the Act. The Assessee contends that income from all other heads including ‘income from other sources’, in addition to ‘business income’, have to be taken into account for the purpose of allowing the deductions available to the Assessee, subject

M/S. Apco Infratech Pvt. Ltd., Lucknow vs. ACIT-1, Lucknow

In the result, appeals vide

ITA 356/LKW/2020[2016-17]Status: DisposedITAT Lucknow02 Apr 2025AY 2016-17

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

than the quantum of deduction determined under Section 80-IA of the Act. The Assessee contends that income from all other heads including ‘income from other sources’, in addition to ‘business income’, have to be taken into account for the purpose of allowing the deductions available to the Assessee, subject

Bahadur Singh, Zirakpur vs. ITO Ward 3(5), Chandigarh

In the result, appeal of the Assesee is allowed for statistical purposes

ITA 706/CHANDI/2023[2012-13]Status: DisposedITAT Chandigarh02 Apr 2025AY 2012-13

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Ajay Jain, C.AFor Respondent: Shri Vivek Vardhan, Addl. CIT, Sr. DR
Section 143(3)Section 148Section 54B

notice u/s 148 of the Act, the assessee furnished return on 26.04.2019 declaring total income at Rs.1,61,900/- under the head income from other sources. The assessee had shown Long Term Capital Gain of (-) Rs.86,15,000/-, against the sale consideration of land declared at Rs.2

Pramod Lakra, Deputy Commissioner of Income Tax, Circle-11(1), Kolkata vs. Meenakshi Mercantiles Limited, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 2489/KOL/2024[2022-23]Status: DisposedITAT Kolkata02 Apr 2025AY 2022-23

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Circle-11(1), Meenakshi Mercantiles Limited Kolkata Room No 504, Woodburn Aayakar Bhawan, 6Thfloor, P-7, Central, 5A,Bibhabati Bose, Vs. Chowringhee Square, Kolkata, Sarani Kolkata, West Bengal, 700069 Westbengal-700020 (Appellant) (Respondent) Pan No. Aadcm1113E Assessee By : Shri S.K. Tulsiyan & Smt. Lata Goyal, Ars Revenue By : Shri Sailen Samadder, Dr Date Of Hearing: 19.03.2025 Date Of Pronouncement : 02.04.2025

For Appellant: Shri S.K. Tulsiyan, &For Respondent: Shri Sailen Samadder, DR
Section 48

account of the assessee and stated that the assessee was having income from dividend and long term investments which has been taxed as income from other sources and profit on sale Meenakshi Mercantiles Limited; A.Y. 2022-23 of long term investments which has taxed as capital gain and income ... dividend was admissible as deduction under s. 57(iii) of the IT Act, 1961 in computing its income from dividend under the head "income from other sources". We do not find any relevance of this case to the facts of the present case. In the present case, the question

Krishna Plantations Private Limited, Margao vs. National E-Assessment Centre, Delhi

ITA 106/PAN/2024[2018-19]Status: DisposedITAT Panaji01 Apr 2025AY 2018-19

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 106/Pan/2024 Assessment Year : 2018-19 Krishna Plantation Private Limited 15/1452, Nanu House, Varde Valaulikar Rd., Madgao, Goa Pan : Aaack6885G . . . . . . . Appellant V/S Income Tax Officer, Ward-3, Madgao, Goa. . . . . . . . Respondent Appearances Assessee By : Smt Bhavya Goyal [‘Ld. Ar’] Revenue By : Mr Ravindra Hattalli [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 20/03/2025 घोषणा की तारीख / Date Of Pronouncement : 01/04/2025 Order Per G. D. Padmahshali; The Captioned Appeal Of The Assessee Impugns Din & Order 1062943051(1) Dt. 23/04/2024 Passed By The National Faceless Appeal Centre, Delhi [‘Ld. Nfac’ Hereinafter] U/S 250 Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] Which In Turn Arisen Out Of Order Of Assessment Dt. 29/01/2021 Passed U/S 143(3) Of The Act By The National Faceless E-Asstt. Centre, Delhi [‘Ld. Ao’ Hereinafter] Anent To Assessment Year 2018-19 [‘Ay’ Hereinafter].

For Appellant: Smt Bhavya Goyal [‘Ld. AR’]For Respondent: Mr Ravindra Hattalli [‘Ld. DR’]
Section 143(3)Section 250Section 56(2)

failure to substantiate true nature & source of declared exempt agricultural income of ₹89,78,685/- was added to total income under the head Income from Other Sources. 3. Aggrieved assessee attempted to resolve the dispute in first appeal before the Ld. NFAC, who in the absence of forceful evidences dismissed ... aside the impugned order and remit the matter back to the file of Ld. NFAC with a direction to deal with income from other source brought to tax de-novo in accordance with law. 6. The appeal in result stands allowed for statistical purposes. In terms of rule

Late Abdulkadar Lashkari, Legal Heir- Abdulsatar Lashkari, Jamnagar vs. ITO, Ward - 2(7), Jamnagar

ITA 364/RJT/2023[2017-18]Status: DisposedITAT Rajkot01 Apr 2025AY 2017-18

Bench: Dr. Arjun Lal Saini, Am. & Dinesh Mohan Sinha, Jm आयकर अपील सं./Ita No. 364/Rjt/2023 (िनधा"रण वष" / Assessment Year: (2017-18) (Hybrid Hearing) Late Abdulkadar Lashkari L/H Abdulsatar Lashkari Vs. The Ito Ward -2(7), Jamnagar Prop. Noori Fruit Agency Minara Fari, Vora Wad Subhash Market Jamnagar- 361001, Gujarat India "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaepl0027C (Appellant) (Respondent)

For Appellant: Shri Ashta Maniyar, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Section 1Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 144Section 288ASection 44ASection 68

completed within following remarks: Unexplained cash deposit as Rs.50,02,000/- discussed in Para-06 above Addition as per para-07 Rs16.91.264/- above Income from other sources Rs.40,248/- as per return of income Less. Deduction under Rs. 10,000/- chapter VIA Total income Rs.67,23,512/- Total taxable income

Satya Narayan, Bharatpur vs. ITO Ward 1, Bharatpur

In the result, the appeal of the assessee is allowed

ITA 1434/JPR/2024[2021-22]Status: DisposedITAT Jaipur01 Apr 2025AY 2021-22

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR, JM आयकर अपील सं. / ITA No. 1434/JP/2024 निर्धारण वर्ष / Assessment Year : 2021-22 Satya Narayan बनाम Income Tax Officer, Prop. M/s Shiv Charan Lal Satya Vs. Ward -1, Narayan, Navin Mandi Yard, Nadbai, Bharatpur Bharatpur स्थायीलेखा सं. / जीआईआर सं./PAN/GIR No.: AAPPN9055M अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by: Sh. Ashish Khandelwal, CA राजस्व की ओर से/Revenue by: Sh. Anup Singh

For Appellant: Sh. Ashish Khandelwal, CAFor Respondent: Sh. Anup Singh, Addl. CIT
Section 142(1)Section 143(2)Section 143(3)Section 145(3)

reads as under : Method of accounting. 145. (1) Income chargeable under the head "Profits and gains of business or profession" or "Income from other sources" shall, subject to the provisions of sub-section (2), be computed in accordance with either cash or mercantile system of accounting regularly employed

Maanwati Agarwal, Jaipur vs. ITO, Ward 1(4), Jaipur

In the result, the appeal of the assessee is partly allowed as indicated hereinabove

ITA 1329/JPR/2024[2013-14]Status: DisposedITAT Jaipur01 Apr 2025AY 2013-14

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Mukesh Khandelwal, C.AFor Respondent: Shri Gautam Singh Choudhary, JCIT-Sr. DR a
Section 101Section 143(1)Section 143(3)

following way- Out of Income from Business and Profession 16,90.226/- (Against interest recd. from Mis. Arun Udyog as partner) Out of Income from other sources 23,11,758 Thus the appellant suo motto did not claim interest of Rs. 5,94,369. The Id. AO should have allowed ... Income from Business and Profession and Rs. 23,11,758/ out of matching interest income declared under Income from other sources) and balance sum of Rs. 5,94,369/- 7 Maanwati Agarwal vs. ITO was not claimed anywhere in the ITR. It was claimed by the appellant during the assessment

Ramdas Singh Tomar, Rajasthan vs. Income Tax Officer, Ward 1(1), Jaipur

ITA 1092/JPR/2024[2018-19]Status: DisposedITAT Jaipur01 Apr 2025AY 2018-19

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR, JM आयकर अपील सं. / ITA No. 1092/JP/2024 निर्धारण वर्ष / Assessment Year : 2018-19 Ramdas Singh Tomar M/s Om Sai Construction, Harikand Ka Pura Faraspura, Dholpur बनाम Income Tax Officer, Ward 1(1), Jaipur स्थायीलेखा सं. / जीआईआर सं./PAN/GIR No.: AMZPT4728R अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by: Sh. Rahul Pandya, Adv. राजस्व की ओर से / Revenue by: Sh. Anup Singh, Addl. CIT सुनवा

For Appellant: Sh. Rahul Pandya, AdvFor Respondent: Sh. Anup Singh, Addl. CIT
Section 115BSection 139(1)Section 142(1)Section 147Section 148Section 148ASection 2Section 271ASection 69A

interest income 4. of Rs.6,324/- received by you during the year under consideration should not be treated as your income from other sources and taxed accordingly.” That during financial year 2017-18 relevant to AY2018-19, the Humble Appellant has withdrawn cash amounting to Rs.1,10,52,000/-. That

ITO, Ward-2(2), Pune vs. Annapurna Mahila Co-Op Credit Society Limited, Pune

In the result, the appeal filed by the Revenue is allowed for statistical purposes

ITA 2108/PUN/2024[2018-19]Status: DisposedITAT Pune01 Apr 2025AY 2018-19

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2018-19

For Appellant: Shri Nikhil S. PathakFor Respondent: Shri Ramnath P. Murkunde
Section 143(3)Section 56Section 69CSection 80PSection 80P(2)(d)

holding that the interest income of Rs.59,01,465/- earned by the appellant is chargeable u/s 56 of the Act as 'Income From Other Sources'. The Ld. AO has relied on the ruling of Hon'ble Supreme Court in the case of Totgars, Co-operative Sales Society