Sale via POA Doesn’t Trigger Capital Gains: ITAT Ahmedabad

DCIT Vs Vishnubhai Vithalbhai Patel (HUF) (ITAT Ahmedabad) Transfer Only on Sale Deed, Not on POA- No Capital Gains in AY 2012-13: ITAT Ahmedabad  Assessee, a HUF, sold agricultural land (Survey No.934, Village Unvarsad, 2,428 sq.mtrs) in two parts to Uttar Gujarat Bargam Kavda Patidar Samaj- First part (1,365 sq.mtrs) transferred in AY 2010-11 & Second part (1,063 sq.mtrs) transferred in AY 2012-13. Transfer was done through irrevocable General POAs (21.07.2010 & 28.03.2012) against consideration of ₹7.75 lakh & ₹37 lakh. Assessee declared STCG of ₹32.34 lakh in AY 2012-13....