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Income-tax Act, 1961 · Chapter IV: Computation of Total Income · F.—Income from other sources

Section 59: Profits chargeable to tax

The Income-tax Act, 1961 was repealed by the Income-tax Act, 2025 from 1 April 2026. The text is kept here because the judgments below apply it.

In plain words

Sub-section (1) of section 41 applies to income from other sources as it does to business income. So if an expense or liability allowed earlier is later recovered or written back, the amount is taxed.

A simplified explanation, prepared with AI assistance from the official text below and checked automatically against it for numbers and cross-references. The official text is the law and prevails over this summary. Not legal advice.

Official text

(1) The provisions of sub-section (1) of section 41 shall apply, so far as may be, in computing the income of an assessee under section 56, as they apply in computing the income of an assessee under the head —Profits and gains of business or profession‖. * * * * * * * * * *

Source: India Code (Legislative Department), the text of the Act as it stood before its repeal. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.

Supreme Court judgments citing the section 59