12 November 2014

POA- Capital Gains


CAPITAL GAINS
In favour of: Assessee

Capital gains on sale of property cannot be assessed in the hands of power of attorney holder, when no consideration was paid to the actual owner at the time of execution of the power of attorney and the assessee had acted merely as an agent, since there was no transfer to or enabling enjoyment of property in favour of agent in any manner so as to attract Section 2(47)(vi).

High Court Of Madras
Commissioner Of Income Tax Vs C. Sugumaran : (2014) 90 CCH 0173 ChenHC
Decided On: Nov 03, 2014

 


No comments:

Post a Comment

What do you think about this? Please write your comment.

CA Exams rescheduled

Looking current situation CA Exam is rescheduled: CA inter and final exams will from 21st Nov . CA foundation will be from 8th Dec 2020.