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    Tag: HUF

    HUF Claim Alone Not Enough Without Documentary Evidence: ITAT Chandigarh
    HUF Claim Alone Not Enough Without Documentary Evidence: ITAT Chandigarh
    Other CourtsLatest news

    HUF Claim Alone Not Enough Without Documentary Evidence: ITAT Chandigarh

    The Income Tax Appellate Tribunal Chandigarh held that merely claiming funds belong to a Hindu Undivided Family is insufficient without documentary proof of their source, holding, and transfer, in a case involving Rs 50 lakh life insurance purchased from alleged agricultural income.

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    Karta Personally Liable for HUF’s Arbitration Debt; Court Can Execute Award Beyond Jurisdiction: Bombay High Court
    Karta Personally Liable for HUF’s Arbitration Debt; Court Can Execute Award Beyond Jurisdiction: Bombay High Court
    High CourtLatest news

    Karta Personally Liable for HUF’s Arbitration Debt; Court Can Execute Award Beyond Jurisdiction: Bombay High Court

    The Bombay High Court held that a Karta can be personally proceeded against to satisfy an arbitral award where HUF assets are insufficient, and clarified that the court at the seat of arbitration retains execution jurisdiction even if assets lie outside its territorial limits.

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    Property Rights | "Karta of a HUF has Discretion to Sell Joint Family Property for Legal Necessities": Supreme Court
    Property Rights | "Karta of a HUF has Discretion to Sell Joint Family Property for Legal Necessities": Supreme Court
    Supreme Court

    Property Rights | “Karta of a HUF has Discretion to Sell Joint Family Property for Legal Necessities”: Supreme Court

    Supreme Court reaffirms that the Karta of a HUF has wide discretion to sell joint family property for legal necessities, protecting property rights and ensuring bona fide transactions.

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