https://www.taxtmi.com/caselaws?id=67787 Silver beds, chairs, footstools and an elephant hauda were found on concurrent factual findings to have been used as furniture for the assessee's personal use or by family members, so they qualified as personal effects under the Income-tax Act. Their sale surplus was therefore not chargeable to capital gains. The controversy was treated as one of fact rather than a debatable legal issue, and no referable question of law was held to arise for High Court reference under section 256(1). The reference application was accordingly declined. en-us Mon, 24 Nov 1980 00:00:00 +0530 Mon, 14 Mar 2011 15:49:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67787 Silver beds, chairs, footstools and an elephant hauda were found on concurrent factual findings to have been used as furniture for the assessee's personal use or by family members, so they qualified as personal effects under the Income-tax Act. Their sale surplus was therefore not chargeable to capital gains. The controversy was treated as one of fact rather than a debatable legal issue, and no referable question of law was held to arise for High Court reference under section 256(1). The reference application was accordingly declined. Case-Laws Income Tax Mon, 24 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67787