https://www.taxtmi.com/caselaws?id=382376 The Tribunal ruled in favor of the assessee, holding that the capital gains should not be attributed to the assessee. The decision was based on the finding that the irrevocable GPA did not establish ownership of the property, and the sale deed executed in favor of the assessee's daughter did not constitute a transfer of property during the relevant assessment year. The Tribunal emphasized that a GPA is not a deed of conveyance and cannot be considered a transfer of property, citing relevant legal precedents. en-us Fri, 24 May 2019 00:00:00 +0530 Mon, 01 Jul 2019 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382376 The Tribunal ruled in favor of the assessee, holding that the capital gains should not be attributed to the assessee. The decision was based on the finding that the irrevocable GPA did not establish ownership of the property, and the sale deed executed in favor of the assessee's daughter did not constitute a transfer of property during the relevant assessment year. The Tribunal emphasized that a GPA is not a deed of conveyance and cannot be considered a transfer of property, citing relevant legal precedents. Case-Laws Income Tax Fri, 24 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382376