Mitakshara law divides the coparcenary property into the following two kinds:-
a) Obstructed heritage
b) Unobstructed heritage
When a person acquires interest in a property by birth it is called unobstructed heritage because the right to the property is not obstructed by the existence of the owner. As against this , when a person acquires interest in a property not by birth but upon death of the last owner, it is called obstructed heritage.
The following are generally recognised as coparcenary property as per Mysore High Court in Commissioner of Income-tax vs Sita l3hateja (1)r.) (Mrs.) (1973) 91 ITR 173:
(i) ancestral property;
(ii) property allotted at a partition;
(iii) property jointly acquired by coparceners;
(iv) property acquired with the aid of coparcenary property
(v) separate property of a coparcener thrown into family hotchpot and treated as
coparcenary property ; and
(vi) Separate property of a coparcener blended with coparcenary property.
Taxation in Business & Profession [Section 28 to 44]
Computation of income under the head 'Profits and Gains of Business or Professions' [Section 28 to 44]
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