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Informative

Vintage Car Sale Liable to Capital Gains Tax if No Proof of Personal Use: Bombay HC

Update / Judgement Date

19 Aug 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income TaxOther Legal Matters

The Bombay High Court has ruled that a "vintage car sale is liable for capital gains tax" if there is "no proof of personal use." The court's decision clarifies a key aspect of tax law. The ruling reinforces the principle that a person can be taxed on the sale of a personal asset if it is not a bona fide personal asset.