https://www.taxtmi.com/circulars?id=10207 When only one coparcener of a Mitakshara HUF remains, ancestral property held by that coparcener is treated as equivalent to self-acquired property, and gifts made by that sole coparcener are liable to gift-tax. This stance is to be distinguished from HUFs with multiple coparceners, where the Karta's power to make gifts is limited and different legal constraints may apply; factual circumstances suggesting a sham gift or the existence of a potential heir may restrict gifting power. en-us Thu, 04 Jul 1974 00:00:00 +0530 Sat, 11 Jun 2011 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10207 When only one coparcener of a Mitakshara HUF remains, ancestral property held by that coparcener is treated as equivalent to self-acquired property, and gifts made by that sole coparcener are liable to gift-tax. This stance is to be distinguished from HUFs with multiple coparceners, where the Karta's power to make gifts is limited and different legal constraints may apply; factual circumstances suggesting a sham gift or the existence of a potential heir may restrict gifting power. Circulars Income Tax Thu, 04 Jul 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10207