Can anybody share his views on whether the share in the ancestral property received by the Individual belongs to the Individual or the HUF? For example, if a B is legal heir of B and if on the death of B, A received the land. Now, whether the Land is to be shown as A's individual property or it is to be thrown in the common pool of A's HUF.
10 February 2013
At First there is problem in eg you took.
Lets suppose you want to say that A is legal heir of B as he received the land
if A receives the land he, will be the owner of the land and not HUF, however he can transfer the land to his HUf, which will remain the property of HUF even in case of Death of A, and will continue to be a property of HUF upto the date of Partition.
CAclubindia
