Search Results Page

Search Results

1 - 5 of 5 (0.31 seconds)
Documents citing The Acit-1(1), Bhopal vs Shri Ashok Gupta, Bhopal on 28 February, 2017

Dcit Central 2, Bhopal vs Raju Perumal , Bhopal on 31 March, 2023

(ii) The assessee has acted as a mere POA holder in the transaction and has not carried out transaction as owner. No agreement between the assessee and the seller (SNR) or the assessee and purchaser (ABC) has been found which could indicate that the assessee had first purchased the impugned land from SNR and thereafter sold to ABC. No evidence has been found evidencing any payment having been made by the assessee to SNR from his own sources or even any consideration having been received from ABC which has been utilized by assessee for his own benefit. There is no statement from SNR or ABC or even Pinki broker that the assessee had any interest in the property except acting as POA Holder. The assessee had also established that whatever consideration was received by him from ABC as POA holder, was passed on to SNR through account-payee cheques. Hence no addition can be made in the hands of assessee as per decision by ITAT, Indore in ACIT Vs. Ashok Gupta (2017) 31 ITJ 121 where it was held that if the assessee has acted only as a POA holder, tax cannot be assessed in the hands of assessee.
Income Tax Appellate Tribunal - Indore Cites 16 - Cited by 0 - Full Document
1