https://www.taxtmi.com/caselaws?id=6658 Property received on partition of a Hindu joint family remains capital in the hands of the allottee and becomes stock-in-trade only if facts show it was brought into the business and treated as such. Separate accounting for the properties, entry of related transactions in that account, absence of fresh purchases, and mere intermingling of funds were insufficient to alter their character. The sale proceeds were therefore not assessable as business income, and the question was answered in favour of the assessee. en-us Wed, 13 Oct 1965 00:00:00 +0530 Sat, 31 Jan 2009 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6658 Property received on partition of a Hindu joint family remains capital in the hands of the allottee and becomes stock-in-trade only if facts show it was brought into the business and treated as such. Separate accounting for the properties, entry of related transactions in that account, absence of fresh purchases, and mere intermingling of funds were insufficient to alter their character. The sale proceeds were therefore not assessable as business income, and the question was answered in favour of the assessee. Case-Laws Income Tax Wed, 13 Oct 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6658