https://www.taxtmi.com/caselaws?id=6656 Property allotted on Hindu family partition retains its capital character unless clear evidence shows subsequent conversion into stock-in-trade of a continuing business. Mere entry of the property or sale proceeds in account books, or use of the income in money-lending accounts, is insufficient to establish such conversion. On the facts, there was no material to show that the assessee carried on a property business after partition, so the surplus on sale was capital accretion and not taxable as revenue profit. en-us Mon, 12 Jul 1965 00:00:00 +0530 Sat, 31 Jan 2009 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6656 Property allotted on Hindu family partition retains its capital character unless clear evidence shows subsequent conversion into stock-in-trade of a continuing business. Mere entry of the property or sale proceeds in account books, or use of the income in money-lending accounts, is insufficient to establish such conversion. On the facts, there was no material to show that the assessee carried on a property business after partition, so the surplus on sale was capital accretion and not taxable as revenue profit. Case-Laws Income Tax Mon, 12 Jul 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6656