Simplification of Tax Audit Report Forms – A Suggestion

The Income Tax Audit Report Forms 3CD alongwith applicable Forms 3CA / 3CB / 29B / 29C / 10B etc prescribed under Income Tax Rules are very expansive and seek a lot of details, which in many cases, are not applicable to the respective category of assessee’s. My submission is that instead of a combination…More

Memorandum of Partition – Requirement of Registration

In the matter of Popatlal Devaram vs CIT (1970) 77 ITR 1013, the Hon’ble Orissa High Court has HELD : The sole question on which this court, is to express its opinion is whether the memorandum dated May 1, 1957, is compulsorily registrable. Law is well settled that a partition of the joint family properties…More

Partnership between Karta of HUF and Coparceners or Members

It is a well settled proposition applicable to Hindu law that members of the joint family and even co-partners can, without disturbing the status of the joint family or the coparcenary, acquire separate property or run independent business for themselves. Ratanchand Darbarilal vs Commissioner Of Income TaxAIR 1985 SC 1572, (1985) 48 CTR SC 349,…More

Hindu Undivided Family – Coparcener versus Member

A coparcener is a person who acquires a right in the ancestral property by birth and a person who has a right to demand partition in the HUF property. Any person who is a part of the family other than a coparcener is simply called a member. The coparcener is also a member of the…More