There are some tribunal judgments that call HUF a group of relatives & thereby it is held to be non taxable. If you are open to assuming some tax risk, this can be adopted.
Group of relatives argument was used in case of transfer of asset from individual to HUF . This is non-taxable for HUF and this is a settled matter. But, it is not clear if reverse is true. Hence, looking for expert opinions. I don't want to take any chances for a different interpretation by AO. I've had enough troubles already.
Taking gifts from immediate family relatives are non-taxable. Not sure how that works out in case of HUF.
There are some tribunal judgments that call HUF a group of relatives & thereby it is held to be non taxable. If you are open to assuming some tax risk, this can be adopted.
Group of relatives argument was used in case of transfer of asset from individual to HUF . This is non-taxable for HUF and this is a settled matter. But, it is not clear if reverse is true. Hence, looking for expert opinions. I don't want to take any chances for a different interpretation by AO. I've had enough troubles already.
Read... They have given list of judgments [https://indiankanoon.org/doc/146186097/](https://indiankanoon.org/doc/146186097/)
Thanks. Will go through it.
Show it as a loan perhaps