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
CAclubindia
