The assessee sold property inherited from his deceased wife, being entitled along with his minor daughter to equal shares. The City Civil Court, Chennai, permitted the sale and directed that the minor\u2019s 50% share be deposited in a nationalized bank in the name of the Registrar under the Hindu Minority and Guardianship Act. The AO, however, included the daughter\u2019s share in the assessee\u2019s hands for LTCG computation, which was confirmed by the CIT(A). On appeal, the Tribunal held that since the assessee had no right to utilize the minor\u2019s share and it was deposited under Court\u2019s directions, it could not be treated as his income. The addition was deleted, and brokerage disallowance also allowed. Appeal allowed.( AY 2016-17 )\u00a0 (ITA No. 1626\/Chny\/2025, dt. 03\/09\/2025)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 64 : Clubbing of income – Minor child – Capital gains \u2013 Sale of inherited property \u2013 Minor daughter\u2019s share deposited in nationalized bank under Court order \u2013 Not includible in assessee\u2019s hands.[S. 45, 54F , Hindu Minority and Guardianship Act, 1956, S.8(2) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-56392","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eFy","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=56392"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56392\/revisions"}],"predecessor-version":[{"id":56393,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56392\/revisions\/56393"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=56392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=56392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=56392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}