Sunder Katwaru Rajbhar, Mumbai vs Income Tax Officer Ward 3(4), Kalyan on 26 February, 2019
The Capital Gain is by virtue of nomenclature is a tax on transfer of
Capital Asset by owner and to the extent of ownership, which
Honorable members have agreed during the course of Argument
and hearing in Original petition that the charge of Capital Gain on
the Applicant is to be to the extent of Appellant share is correct
proposition and the same cannot be equated with the collection of
Capital Gain Tax from Appellant on behalf of other co-owners of the
property which was made clear and noted by writer of the
judgement in Log book that the recovery of tax dues of co-members
can definitely be carried on by the A.O from Power of Attorney
Holder, since he has received money on their behalf in his Account.
This proposition was argued, accepted by the members in the open
court and Decision quoted and copy of judgement / handed over by
the L.R of Honorable Madras High Court in the case of CIT Vs
Sukumaran in I.T Appeal No 840/2014, submitted that the Capital
Gain cannot be taxed in the hands of Power of Attorney holder,
3
MA No.174/Mum/2018
Appellant on identical facts, neither A.R nor members have
distinguished.