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2014 (5) TMI 41 - AT - Income TaxAddition made u/s 56 of the Act - Gift received from HUF - Whether a gift received by the assessee from the HUF is eligible for being considered as a gift received from a 'relative' so as to qualify for exemption from tax – Held that:- The CIT(A) was of the view that HUF is nothing but a group of relatives - Merely because it is given legal status as a 'HUF' the individuals do not lose their identity as relatives - Such group of relatives who are members of the HUF clearly fall in the definition of the term 'relative' provided in explanation to clause (vi) of S.56 of the Income- tax Act - the word relative includes 'relatives' and such 'relatives' coming together as a group and constituting themselves as a legal entity, viz. 'HUF', are not disentitled from their original right of giving gifts to any eligible relative either within or outside the ring of HUF – the decision in Harshabhai Dahyalal Vaidhya(HUF) V/s. ITO [2013 (11) TMI 617 - ITAT AHMEDABAD] relied upon - Thus, there is no infirmity in the order of the CIT(A) – Decided against Revenue.
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