1) There is a factory building (premises) of which an HUF is owner.
2) And,the premises is rented to a firm. The three sons of the Karta of the HUF (owner of the building) are partners in the firm (HUF is only the building owner and not the partner).
3) The brothers" partnership needs to ne dissolved. HUF status may also not continue. Sons may not remain the members of the HUF. Then, who will be the owner of the building?
partnership will dissolve its own way without effecting the properties of HUF
for HUF partition the concent and descision of KARTA is to be followed,
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
View Details
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
Shaswat initial support private limited
Ahmedabad
CS
View Details
CAclubindia
