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2021 (7) TMI 625 - AT - Income TaxAssessment of HUF v/s individual members - Reopening of assessment u/s 147 - Capital gain on sale of property three persons, who belong to HUF - notice has been issued in the name of individual capacity and the assessment has also been made in the individual hands - HELD THAT:- As observed that the immovable property which was purchased in the year 1962 was sold on 02/02/2006 for a sum of ₹ 2 crores under a registered agreement of sale-cum-GPA and the sale deed was entered into by three persons. It is fact that the property was sold by aforementioned three persons, who belong to HUF, whereas the notice has been issued in the name of individual capacity and the assessment has also been made in the individual hands. It is clear form the clause as in Agreement of sale-cum-GPA the Special Officer and Competent Authority, ULC, Hyderabad has passed the order that the property belongs to HUF. The AO assessed the capital gains in the hands of the individual assessees, which is not proper. We, therefore, set aside the order of CIT(A) in this case and accordingly, allow the appeal of the assessee. Assessments in the name of three persons - Three appellants names were not found in the agreement of sale-cum-GPA for the impugned property. Therefore, assessments made in these three appellants cases are void-ab-initio. In the result, these three appeals are allowed.
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