{"id":6705,"date":"2019-08-25T08:09:59","date_gmt":"2019-08-25T08:09:59","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pankil-garg-v-pcit-chandtribwww-itatonline-org\/"},"modified":"2019-10-08T15:45:34","modified_gmt":"2019-10-08T15:45:34","slug":"pankil-garg-v-pcit-chandtribwww-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pankil-garg-v-pcit-chandtribwww-itatonline-org\/","title":{"rendered":"Pankil Garg v. PCIT ( 2019) 181 DTR 305 (Chand)(Trib),www.itatonline.org"},"content":{"rendered":"<p><strong>The Tribunal held that\u00a0 the stand of the Dept that in the case of an individual, a &#8220;HUF&#8221; is not a &#8220;relative&#8221; and that while a gift by the individual to the HUF is exempt, a gift from the HUF to its member is taxable u\/s 56(2)(vii) is not correct. S. 56 (2) (vii) provides that the members of the &#8216;HUF&#8217; are to be taken as &#8220;relatives&#8221;. The converse is not provided because on first principles, amounts received by a member from the &#8216;HUF&#8217; cannot be said to be income of the member exigible to taxation. Terming by the PCIT of decisions of the Tribunal as &#8220;incorrect&#8221; tantamounts to judicial indiscipline and will lead to chaos. Order u\/s 263 is quashed. <\/strong><strong>\u00a0<\/strong>( ITA No. 773\/C HD \/2018, dt. 17.07.2019)(AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 56 : Income from other sources \u2013HUF \u2013Relative &#8211;  Amounts received by a member from the &#8216;HUF&#8217; cannot be said to be income of the member exigible to taxation- Revision is held to be not valid [ S.56(2) (vii), 263 ].<\/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":[1],"tags":[],"class_list":["post-6705","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1K9","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6705","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=6705"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6705\/revisions"}],"predecessor-version":[{"id":7708,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6705\/revisions\/7708"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}