https://www.taxtmi.com/caselaws?id=70484 The Tribunal held that the sole surviving coparcener in a Hindu Undivided Family (HUF) could claim exemption under Section 54(1) of the Income Tax Act as an individual. Relying on decisions from the Madras and Bombay High Courts, the Tribunal determined that the coparcener, with absolute powers of disposal, could be considered to have sold the property as an individual despite being assessed as an HUF. Consequently, the Tribunal affirmed the CIT (Appeals) order granting the exemption and partially allowed the appeal for the assessment year 1982-83. en-us Mon, 17 Aug 1987 00:00:00 +0530 Sat, 16 Apr 2011 14:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70484 The Tribunal held that the sole surviving coparcener in a Hindu Undivided Family (HUF) could claim exemption under Section 54(1) of the Income Tax Act as an individual. Relying on decisions from the Madras and Bombay High Courts, the Tribunal determined that the coparcener, with absolute powers of disposal, could be considered to have sold the property as an individual despite being assessed as an HUF. Consequently, the Tribunal affirmed the CIT (Appeals) order granting the exemption and partially allowed the appeal for the assessment year 1982-83. Case-Laws Income Tax Mon, 17 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70484