Tax on Sale of Property cannot be levied from GPA Holder

Sama Om Reddy Vs ITO (ITAT Hyderabad) Ld.Counsel for the assessee had reiterated the submissions made by the assessee before the AO and has submitted that by virtue of the Agreement of Sale cum GPA and handing over of the possession, the assessee had transferred the property in favour of the Vendee/GPA-holder, Shri A.Manikyam. It is submitted that the assessee had received the entire sale consideration of Rs.5,94,000/- and had also handedover the vacant possession of the property to the Vendee. Therefore, according to him, the transfer was complete in 2006 itself. It is submitted that it was i...