partition

Question:- A Karta of a HUF makes an agreement with another person to sell an ancestral immovable property for a consideration. His married sons refuse to execute the sale deed in the last minute saying that the sale consideration is nowhere near the market price, their interests are therefore very much affected and the Karta has misled them to sign the sale deed. In the above circumstances. Full Article

Since the passing of the Hindu Succession Act, 1956 (‘the Act’), one issue which was constantly agitated by the liberals was regarding the right of a daughter or a married daughter in coparcenary property of a Hindu Undivided Family. Some of the States which took the lead in liberalisation, passed State amendments to the Act, whereby an unmarried daughter married after the specified date was given a right in coparcenary property. Kerala, Karnataka and Maharashtra wer.. Full Article

Partition is the severance of the status of Joint Hindu Family, known as Hindu Undivided Family under tax laws.Under Hindu Law once the status of Hindu Family is put to an end, there is notional division of properties among the members and the joint ownership of property comes to an end. However, for an effective partition, it is not necessary to divide the properties in metes and bounds. But under tax laws for an effective partition division by metes and bounds is nece.. Full Article

1. Question: What is “property”? Answer: Property implies a bundle of rights over a thing. The scope of such rights is variable and can extend to excluding everyone else from interfering with his enjoyment of that thing. Full Article

The Bombay Stamp Act applies to the entire State of Maharashtra. All the instruments specified in the Schedule to the Act are covered under this Act. 1. IMPORTANT DEFINITIONS 1.1 “Conveyance” has been defined to include: a conveyance on sale, every instrument, every decree or final order of any Civil Court, every order made by [...] Full Article

BRIEFLY stated facts of the case are that the Assessee is a Hindu Undivided Family consisting of Shri P.C. Ramakrishna, his wife and his two daughters. There was an oral total partition of H.U.F. on 16.9.1994 between Sri P.C. Ramakrishna, his wife and two daughters. Under this oral partition, the two daughters were allotted Rs.12,50,000/ - each and these amounts were adjusted against a sum of Rs. 12,50,000/- advanced to each of them earlier as loan by H.U.F. In the said .. Full Article