Case Law Details
Case Name : Upma Shukla Proprietor Troubleshooters Vs ITO (ITAT Delhi)
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Delhi
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Upma Shukla Proprietor Troubleshooters Vs ITO (ITAT Delhi)
This appeal by the assessee has been directed against the order of Ld. CIT(Appeals) challenging the additions on account of long term capital gains arising from transfer of land and also an addition on account of short term capital gains arising from transfer of building.
The AO observed that the assessee sold land and claimed to have received only Rs. 2,50,000/- as consideration. However, as per registered Please become a Premium member. If you are already a Premium member, login here to access the full content.
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asessee received notice u/sec.148 to file Retun for the information received asseessee sold property, not disclosed. Assessee said he sold a property as GPA and he did possess a property to sell on his own.
ITO passed order u sec 144 treating the sale value as his capital gain.
is GPA CAN BE HELD Liable to capital gain when did not own and sell but sold a property of someone as a GPA.
please clarify under the income tax act, power agent is liable to pay means how will he pay the tax when he did not have any income.