POA Holder liable to tax on Capital Gain if fails to prove transfer of consideration to original owner/seller

Rakesh Kumar Gupta Vs ITO (ITAT Delhi) Assessee contended that he was not the owner of the property sold and he executed sale deed on behalf of owner Shri Ashok Kumar Garg and, therefore, fasting tax liability on account of short term or long term capital gain on the shoulders of the assessee is not valid. Assessee, despite several directions by the AO, did not produce any documentary evidence to show that the entire sale consideration received by him was transferred to the original owner Shri Ashok Kumar Garg who gave him power of attorney for execution of sale deed. Even despite due service ...