Personal-use motor cars constitute personal effects rather than...

Personal-use motor cars constitute personal effects rather than capital assets where their intimate and common personal use is established. Non-claim of depreciation, disallowance of car expenses as personal, and absence of business activity support that classification; balance-sheet treatment as a fixed asset does not prevail over actual user. Accordingly, transfer of such a motor car does not generate an allowable capital loss. Authorities concerning business assets or depreciation were distinguishable.