24 January 2011
HUF in which father and his sons are members ,after partition share goes to smaller HUF of his sons . My question is whether the business is continued as partnership of smaller HUF's and the effects of such partition ?Are there any case laws relating to effects of partition ?
24 January 2011
You have not mentioned after transfer whether business has been transfered to smaller HUF or not. If it has been divided between the two, they can run it as a partnership firm.
CAclubindia
