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Capital gains

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(Querist)
27 June 2014 Sale of silver utensils consisting of thalis, katori and tumblers meant for personal use is it taxable under capital gains?

Please help as in T N Manoharan ipcc book it says it is not taxable

Thanks in advance!
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 June 2014 no it is not taxable. it is outside the ambit of capital assets.
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Rupesh Jain

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Rupesh Jain (Expert)
27 June 2014 no it is not taxable
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Suchendra Kotiyan

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Suchendra Kotiyan (Querist)
27 June 2014 Thank you Nikhil and Rupesh Sir but could you please explain this in details as to why not taxable as these are silver utensil doesn't it come under the exception given to jwellery ,painting etc... please help

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