Taxabiliity of Karta in case of Gift

This query is : Resolved

Nitin (Querist)
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14 June 2011 Sir/Madam, I wanna know from you that is any one can give Tax free gift to Karta. In which situation or condition Karta can receive Tax free Gift from their members. Please give your expert opinion on it & plz give me the relevant section or case law on which Karta can received Tax free gift.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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15 June 2011 As far as gift is concerned there is no bar for giving and receiving gifts. In case of a member of the HUF is giving the gift to the HUF this means the individuals are throwing their individual property in the hotchpotch of the HUF and giving the rights to the other members of HUF to have a claim over the same at the time of partition. But the same is not covered the provisions of directly or indirectly transferring the property to the family members
Ref.117 ITR 842 - CIT Vs. Dilbagrai
220 ITR 24 CIT Vs. Chanchalben
Supreme Court Cases
1965 AIR 1392 1965 SCR (2) 139

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