Assessee holding General Power of Attorney with respect of Land Sold Not Liable for Capital Gains

ITO Vs Sejal Gopalbhai Shah (ITAT Ahmedabad) The issue under consideration is whether capital gain will be taxed in the hands of general power of attorney holder with respect to land sold? ITAT states that, the assessee was just general Power of Attorney holder with respect to the lands in dispute. This fact has not been disputed by the authorities below. As such there was no documentary evidence available before the authorities below suggesting that the assessee has received consideration against the transfer of such lands. ITAT also find that the learned CIT (A) has given very clear finding ...