https://www.taxtmi.com/highlights?id=49193 Additions u/s 56(2)(vii) - any amount received by a member of the 'HUF', even out of the capital or estate of the 'HUF' cannot be said to be income of the member exigible to taxation. Since such a member himself has a pre-existing right in the property of the 'HUF', hence, it cannot be said to be a gift without consideration by the 'HUF' or by the other members of the 'HUF' to that recipient member. - AT en-us Mon, 09 Sep 2019 08:11:06 +0530 Mon, 09 Sep 2019 08:11:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=49193 Additions u/s 56(2)(vii) - any amount received by a member of the 'HUF', even out of the capital or estate of the 'HUF' cannot be said to be income of the member exigible to taxation. Since such a member himself has a pre-existing right in the property of the 'HUF', hence, it cannot be said to be a gift without consideration by the 'HUF' or by the other members of the 'HUF' to that recipient member. - AT Highlights Income Tax Mon, 09 Sep 2019 08:11:06 +0530 https://www.taxtmi.com/highlights?id=49193