https://www.taxtmi.com/caselaws?id=35924 Capital gains from the sale of land forming part of a ruler's official residence were held not to fall within the exemption for the bona fide annual value of palaces declared as official residences. The exemption in paragraph 15(1)(iii) of the Part B States (Taxation Concessions) Order, 1950 was confined to annual value income and could not be extended to capital gains arising on sale of part of the compound. Accordingly, the capital gains were not exempt from tax. en-us Fri, 13 Feb 1981 00:00:00 +0530 Thu, 18 Mar 2010 10:26:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35924 Capital gains from the sale of land forming part of a ruler's official residence were held not to fall within the exemption for the bona fide annual value of palaces declared as official residences. The exemption in paragraph 15(1)(iii) of the Part B States (Taxation Concessions) Order, 1950 was confined to annual value income and could not be extended to capital gains arising on sale of part of the compound. Accordingly, the capital gains were not exempt from tax. Case-Laws Income Tax Fri, 13 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35924