Sale of personal effects

If its not a capital asset than no capital gain n not at all taxable as its not an income within d definition of sec2(24).

Thanks for reply.

My doubt is, will this profit of Rs. 2lacs from personal effect  be subject to "INCOME FROM OTHER SOURCES" ? And , why not?

fo taxability such earnings shlould be an  income within  definition of income u/s 2(24).its not incom frm other source.

Thanks Mr. Tushar,

U hv resolved my querry satisfactorily. I have checked out the relevent section 2(24) cited by you. Thanks a lot.