https://www.taxtmi.com/caselaws?id=55174 The character of a lump sum received in lieu of privy purse was determined by its source and historical incidents, and it was treated as HUF income rather than the individual assessee's income. Section 64(iv) did not apply to capital gains on sale of the flat because the gift and sale were separated by about five years, so the requisite proximate nexus was absent; the gain was not taxable in the assessee's hands. Articles need not be physically attached to the person to qualify as personal effects if they serve personal needs, so the gun, revolver and generator were treated as articles of personal use and the related capital gains were not taxable. en-us Wed, 22 Aug 1984 00:00:00 +0530 Wed, 24 Nov 2010 12:28:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55174 The character of a lump sum received in lieu of privy purse was determined by its source and historical incidents, and it was treated as HUF income rather than the individual assessee's income. Section 64(iv) did not apply to capital gains on sale of the flat because the gift and sale were separated by about five years, so the requisite proximate nexus was absent; the gain was not taxable in the assessee's hands. Articles need not be physically attached to the person to qualify as personal effects if they serve personal needs, so the gun, revolver and generator were treated as articles of personal use and the related capital gains were not taxable. Case-Laws Income Tax Wed, 22 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55174