S. 2(47) Irrevocable POA of a property in favour of land developers deemed as ‘transfer’

Smt. Binder Khokher V. ACIT (ITAT Chandigarh), ITA No. 738/Chd/2012, Date of Pronouncement 31.7.2013

A copy of the irrevocable GPA executed in terms of paragraph 15 of the agreement has been furnished by the applicant. It authorizes the developer : (i) to enter upon and survey the land, prepare the layout plan, apply for renewal/extension of licence, submit the building plans for sanction of the appropriate authority and to carry out the work of development of a multi-storied residential complex, Please become a Premium member. If you are already a Premium member, login here to access the full content.