'Chargeable gift'- Hindu law - Settlement of share of HUF on unmarried daughter
Court :
Supreme Court
Brief :
'Chargeable gift'- Hindu law - Settlement of share of HUF on unmarried daughter
The assessee were members of an HUF known as CD family.'C' the karta died on 29 January 1987. Due to some disputes arising among family members, a family arrangement was made on 4 August 1988. As per the said arrangement/settlement one unmarried daughter 'J' was alloted a godown building. Later 'J' married on 8 November 1989. As per amendment to Hindu Succession Act 1956 by the Hindu Succession (Tamil Nadu Amendment) Act 1989 w.e.f 25 March 1989, the daughter was made a co-parcener like a son. The settlement being in accordance with Amendment Act, no gift tax was attracted.
s.29A of the Hindu Succession (T.N Amendment) Act 1989
Citation :
s.29A of the Hindu Succession (T.N Amendment) Act 1989
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CMA Gul S
Published in Income Tax
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