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TMI Blog2013 (11) TMI 154X X X X Extracts X X X X X X X X Extracts X X X X ..... capital gain on sale of his share and interest income in the hands of HUF and taxed thereunder - Copy of the return filed in Hindu undivided family capacity was furnished by the assessee in his appeal - To avoid double taxation the same cannot be assessed again in the individual capacity to avoid double taxation – Decided in favour of assessee. - IT Appeal NO. 4763 (MUM.) OF 2012 - - - Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was stated before the Assessing Officer during the assessment proceedings that the assessee has disclosed the sale of property in the hands of the Hindu undivided family as the same belonged to the Hindu undivided family. The interest on mutual fund etc. has also been shown in the hands of the Hindu undivided family as the same belongs to Hindu undivided family. However, the Assessing Officer did ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before the Tribunal. It was also submitted that the assessee has disclosed the capital gain in Hindu undivided family while filing the return on the basis of capital gain arises. The interest income has also been disclosed and the same has been accepted by the Department. Attention of the Bench was drawn to a copy of the computation as well as other details disclosed in the hands of the Hindu undi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ord, I found that the assessee deserves to succeed in its appeal. It is noticed that the ancestral property was received by two brothers and the same was divided by two brothers by entering into an agreement between them. The assessee sold his share and showed the capital gain in the hands of Hindu undivided family capacity. Whatever, interest was received on sale consideration, etc., the same was ..... X X X X Extracts X X X X X X X X Extracts X X X X
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