POA Cannot Be Treated As Registered Conveyance For Purpose Of Transfer U/s 247V And Capital Gain U/s 45: ITAT

The ITAT held that a power of attorney cannot be treated as a registered conveyance for purposes of Section 247V and capital gains under Section 45. The article elaborates on the legal distinction between conveyance and POA in property transfers and taxation. It highlights judicial interpretation ensuring tax obligations are aligned with substantive property rights. The decision provides clarity on capital gains treatment in indirect transfers.