https://www.taxtmi.com/caselaws?id=272611 Immovable properties allotted on partition were treated as capital assets in the assessee's hands unless clear and affirmative evidence showed that they were taken over as stock-in-trade of the assessee's own business. Mere common bookkeeping or use of income from the properties in the money-lending business did not convert their character into trading assets. On that basis, the sale proceeds were not taxable as business income, and the properties remained capital assets rather than stock-in-trade. en-us Tue, 04 Jul 1961 00:00:00 +0530 Wed, 09 May 2018 16:53:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272611 Immovable properties allotted on partition were treated as capital assets in the assessee's hands unless clear and affirmative evidence showed that they were taken over as stock-in-trade of the assessee's own business. Mere common bookkeeping or use of income from the properties in the money-lending business did not convert their character into trading assets. On that basis, the sale proceeds were not taxable as business income, and the properties remained capital assets rather than stock-in-trade. Case-Laws Income Tax Tue, 04 Jul 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272611