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PAN Cannot Override Legal Ownership- ITAT Blasts Revenue for Taxing Individual Instead of HUF/Trust
Case Law Details
- Case Name
- Deepan Pulin Mehta Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All ITAT, ITAT Ahmedabad
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Deepan Pulin Mehta Vs ITO (ITAT Ahmedabad)
PAN Cannot Override Legal Ownership- ITAT Blasts Revenue for Taxing Individual Instead of HUF/Trust
In this case, Assessee was taxed on alleged capital gain of Rs.33,24,000/- on sale of an immovable property. He did not file return, as he consistently stated that the property did not belong to him in his individual capacity but was owned by his HUF & a Trust as per the Will of his late father. The Will clearly bequeathed 50% of the property to Assessee’s HUF & 50% to a family Trust. The sale deed itself named the HUF & the Trust as the s...
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