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2012 (2) TMI 641 - AT - Income TaxExtract: .......ation to section 56(2) of the Act. Once it is held that HUF falls in this definition, no receipt from HUF to its coparceners or members can be assessed by invoking the provisions of section 56(2)(v) of the Act. Accordingly, we allow the claim of assessee and uphold the order of CIT(A) on this issue. 9. In the result, appeal of revenue is dismissed.
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