Source of Funds Determines Property Ownership in HUF; Agreement Silence on Ownership Status Doesn't Alter Character.

Source of Funds Determines Property Ownership in HUF; Agreement Silence on Ownership Status Doesn't Alter Character. https://www.taxtmi.com/highlights?id=2973 Ownership - Mere non-mentioning of the status in the Agreement of purchase or sale does not alter the character of the property especially when the source of funds and that the status of HUF is governed by the investments which were made out of HUF funds and the HUF can purchase property in the name of any member of family. - HC en-us Tue, 21 Feb 2012 09:09:32 +0530 Tue, 21 Feb 2012 09:09:32 +0530 TaxTMI RSS Generator Source of Funds Determines Property Ownership in HUF; Agreement Silence on Ownership Status Doesn't Alter Character. https://www.taxtmi.com/highlights?id=2973 Ownership - Mere non-mentioning of the status in the Agreement of purchase or sale does not alter the character of the property especially when the source of funds and that the status of HUF is governed by the investments which were made out of HUF funds and the HUF can purchase property in the name of any member of family. - HC Highlights Income Tax Tue, 21 Feb 2012 09:09:32 +0530 https://www.taxtmi.com/highlights?id=2973