NISHA AGARWAL (Chartered Accountant) (454 Points)
28 December 2012CAN ANYONE PLEASE EXPLAIN THE MEANING OF THE FOLLOWING LINE:
" ONLY THOSE EFFECTS CAN BE LEGITIMATELY BE SAID TO BE PERSONAL WHICH PERTAIN TO THE ASSESSEE'S PERSON. IN OTHER WORDS , AN INTIMATE CONNECTION BETWEEN THE EFFECT AND THE PERSON OF THE ASSESSEE MUST BE SHOWN TO EXIST TO RENDER THEM "PERSONAL EFFECTS".
( IN CASE OF H.H. MAHARAJA RANA HEMANT SINGHJI )
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 28 December 2012
It means that for a article or property or anything to be a personal effect .....the assessee has to prove that the same is purely personal effect ....i.e . the personal belongingness of the article or property should be first and foremost of the assesssee and not of any other person .
For Example- PC is used by a person for his personal work is personal effect for him .....But afterwards he gift the same to his son ....then that PC will not be a personal effec for the son.
That alll I guess and not sure.
Aayush
(Student)
(26 Points)
Replied 11 January 2013
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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