foreign income

Status of the assessee?

Nature of transaction whether loan, gift, business receipt etc.? 

1. If it is in the nature of gift it will be taxable as Income from Others Sources u/s 56(2)
2. ITR -1 can be filed. 
3. But if it is in relation to some other receipts then it shall be taxable under the head based on the nature of receipt (like Business ). In such case, appropriate ITR shall be used. 
Please correct me if the above solution has an alternative view.