1980 (11) TMI 84

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....id to arise out of the Tribunal's order dt. 3rd July, 1980 in ITA No. 1176/JP/1979 for the asst. yr. 1976-77 to the Hon'ble High Court of Judicature, Rajasthan at Jaipur under s. 256(1) of the IT Act: '1.Whether on the facts and in the circumstances of the case the Tribunal was justified in holding the Silver Beds, large silver chairs, small silver chairs, foot stool silver and Elephant Hauda S....

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....as capital gain: 1.Silver Beds 2 2.Large silver chairs 2 3.Small silver chairs 2 4.Foot Stool silver 2 5.Elephant Hauda 1 4. The ITO did not accept the contention of the assessee and accordingly brought to tax a sum of Rs. 45,000 as capital gain arising out of the sales of the above articles. 5. On appeal, the AAC held that these items were personal effect held ....