Power of Attorney Holder cannot be assessed for Capital Gain

Power of attorney is not an instrument of transfer in regard to any right, title or interest in any immovable property. The power of attorney is a creation of an agency whereby the grantor authorizes the grantee to do acts specified therein, on behalf of grantor, which when executed will be binding on the grantor as if done and by him.

Full Text of the ITAT Order is as follows:-

This Appeal by the Assessee is directed against the order of Ld. CIT (A), Ajmer, dated 10/01/2017 pertaining to A.Y. 2010-11.

The Assessee has raised the following grounds of appeal :-

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