Can a coparcener blend his self-acquired property with that of HUF? Whether such blending of individual property with that of HUF requires consent of other members of the family? Can the act of the coparcener blending individual property into HUF be considered as revocable transfer? Is it necessary for the HUF to have any ancestral property prior to receiving the property from one of the coparceners?
[i] Yes, a co-parcener can blend his self-acquired property with that of HUF by throwing his individual or self-acquired property into family hotchpot or by impressing such property with the character of HUF property.
[ii] No, the act of blending does not require consent of other members of the family. The act is a unilateral act and is a matter of individual volition. There is no question of family either accepting it or rejecting it. Such blending does not constitute a transfer.
[iii] No, once blending is done, it is not revocable. There is no provision for retransfer, directly or indirectly, of the whole or any part of the income or assets to the transferor. As such, there is no question of blending being regarded revocable transfer for the purpose of Income-tax Act, 1961.
[iv] No, it is not necessary for the HUF. Even an empty hotchpot can receive and hold any property that is thrown into it by the co-parcener.