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For the purpose of Capital Gain .

Mayur Narwani (50 Points)

05 December 2017

In HUF Case-:

let, say Immovable property Transfer to Brothers Wife then Capital Gain apply or not .???

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160342 Points)
Replied 05 December 2017

Yes apply; unless there is dissolution of HUF, and the property is allotted to any member.

2 Like

Mayur Narwani (50 Points)
Replied 05 December 2017

but sir ese to deemed income mana jaega na . becouse property tfr relatives person ko hue h to

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160342 Points)
Replied 05 December 2017

Immovable property gets transferred only through registered sale deed, wherein as per stamp duty act some value is fixed. If HUF is existing and transfers its immovable property, capital gain liability will arise based on the circle rate.

Secondly, HUF cannot give gift !!

Mayur Narwani (50 Points)
Replied 05 December 2017

thanks sir ,

Mayur Narwani (50 Points)
Replied 05 December 2017

But sir jb Income show ni ki ho to us situation m u/s 147 sec. m kitne penalty hoge .....

Z ( ) (2960 Points)
Replied 06 December 2017

Originally posted by : Dhirajlal Rambhia
	Yes apply; unless there is dissolution of HUF, and the property is allotted to any member.

Sir,

Is this not a case of Gift made by HUF to its Relative and hence not liable to be taxed?

In another post, you said that the HUF cannot make the Gifts.

But I believe HUF can make the Gift to its members. F.A. 2012, amended the definition of relative in the explanation to S. 56(2) to provide that in case of HUF, its members shall be treated as relatives.

Kuppayee vs. Raja Gounder (265 ITR 551 at 559) SC

Raghbir Singh (1958) 34 ITR 719 (P&H)