Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2012 Year 2012 This

It is not possible to presume that the undivided family property ...


Family Property Used in Business Doesn't Automatically Belong to Firm, Even If Used by Legal Heirs.

August 9, 2012

Case Laws     Income Tax     AT

It is not possible to presume that the undivided family property becomes the property of the firm for the reason that some of the legal heirs have used the property to carry on the business of the firm constituted by them. - AT

View Source

 


 

You may also like:

  1. Liability of GST - GST on notional rent - property of the partner used by the Partnership Firm to carry out the business by the firm at free of rent - GST is liable to...

  2. Filing of e-return by Legal Heir (LH) using DSC: Revised Process.

  3. Assessment of capital gain for HUF - purchase of family property - whether the property belongs to Hindu Undivided Family even though the document was registered in the...

  4. Assessment proceedings against one of the legal heirs - deceased/assessee had admittedly more than one legal representatives - Despite the legal heir's explicit...

  5. Liability on legal heir of the dues of deceased - It is very much clear that in case of transfer or otherwise disposal of the business, in such circumstances, only the...

  6. Benami transaction - availability of joint family property or income - joint family acquisition - Purchase of property in the name of wife (Mrs. A)  - Presumption of...

  7. Dishonour of Cheque - legal heir of deceased - substitution of the opposite party (deceased complainant) - It is the case of the petitioner that the opposite party is...

  8. Capital gain - sale of property by the legal heir with the co-owners - the assessee (as legal heir of the said property) is liable to capital gains tax during the year...

  9. The ITAT Raipur held that an order passed in the name of a deceased assessee was invalid as legal heirs failed to disclose the death. Deduction u/s. 54F was denied as...

  10. Recovery of arrears of sales tax and penalty from the Legal Heirs of deceased - - The impugned order contains a fatal flaw insofar as it is addressed to the petitioner...

  11. Addition as gift from assessee HUF which was exempted u/s 56(2)(VII) - The amount spent may be more than that the member may have gotten on the partition of the 'HUF'....

  12. Undisclosed income from transaction of used empty bottles belonged to the Appellant firm - On the basis of the trial balance sheet seized during the search operation,...

  13. The ITAT, an Appellate Tribunal, addressed an appeal filed in the name of a deceased person without proper mention of the legal heir. The appeal was dismissed due to the...

  14. Assessment in the name of the deceased assessee - liability of legal heir - After the death of the assessee, his legal heir was not brought on the record and no notice...

  15. Revision u/s 263 by CIT - rental income which had been shown as “Income from Business & Profession” rather than showing the same as “Income from House Property” - once...

 

Quick Updates:Latest Updates