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Informative

Taxpayer Not Property Owner, Only POA Holder: ITAT Remands Rs. 4.73 Crore LTCG Addition Matter

Update / Judgement Date

13 Apr 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Appeal Against OrderIncome Tax

The ITAT (Income Tax Appellate Tribunal) remanded a ₹4 crore Long-Term Capital Gains (LTCG) addition matter, noting that the taxpayer was not the property owner but only a Power of Attorney (POA) holder. The tribunal found that the Assessing Officer had not adequately considered the taxpayer's status as a POA holder in the property transaction, which could have implications for the taxability of the capital gains arising from the sale.