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Income Tax - Highlights / Catch Notes

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Taxability of the amount received by the assessee from his HUF, ...

Case Laws     Income Tax

March 29, 2022

Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the assessee from his HUF u/s. 56(2)(vii) - the amount received by the assessee from its HUF is not in the nature of any sum received without consideration/gift and therefore not exigible to tax as per provisions of Section 56(2)(vii) of the Act - AT

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