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2002 (12) TMI 22 - BOMBAY HIGH COURTCapital gains arising out of the sale of the immovable property of the deceased - taxability - Tribunal was justified in holding that the sale of the immovable property was effected by the co-sharers individually and not by the Hindu undivided family – Thus, Tribunal was justified in treating the entire capital gains arising out of the sale of the immovable property of the deceased, taxable in the hands of the individual co-sharers - Tribunal was right in holding that the notice u/s 148 was untenable since the HUF did not exist, and that the capital gains arising was not taxable in the HUF's hands
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