https://www.taxtmi.com/caselaws?id=207034 The Tribunal ruled in favor of the assessee, determining that the amount received on partition of HUF should not be treated as a gift and taxed under "Income from Other Sources." The Tribunal recognized the validity of the partition from 31/3/2005, emphasizing that the receipt was a capital receipt exempt from taxation. Consequently, the appeal by the assessee was allowed, and the addition made by the Assessing Officer was deleted. en-us Wed, 14 Sep 2011 00:00:00 +0530 Wed, 23 Nov 2011 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207034 The Tribunal ruled in favor of the assessee, determining that the amount received on partition of HUF should not be treated as a gift and taxed under "Income from Other Sources." The Tribunal recognized the validity of the partition from 31/3/2005, emphasizing that the receipt was a capital receipt exempt from taxation. Consequently, the appeal by the assessee was allowed, and the addition made by the Assessing Officer was deleted. Case-Laws Income Tax Wed, 14 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207034