Lalitaben Hariprasad v. CIT 2010 (Guj)
Members in HUF - Father, Mother, 2Sons & that HUF has Residential HP. Father & Mother took 1/2 share each of that RHP & paid 1433000each to sons. High court observed that COA of 1/4th share of HP being proportion to each members u/s 49(1)(i), the COA of HUF will b COA to members. But here, ADDITIONAL SHARE ACQUIRED at the time of partition, therefore 1433000 can b claimed as COA in the hands of each assessee on subsequent sale.
Members in HUF - Father, Mother, 2Sons & that HUF has Residential HP. Father & Mother took 1/2 share each of that RHP & paid 1433000each to sons. High court observed that COA of 1/4th share of HP being proportion to each members u/s 49(1)(i), the COA of HUF will b COA to members. But here, ADDITIONAL SHARE ACQUIRED at the time of partition, therefore 1433000 can b claimed as COA in the hands of each assessee on subsequent sale.
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