https://www.taxtmi.com/caselaws?id=431571 Long-term capital gains from the sale of immovable property are assessable in the hands of the owners, not a mere power of attorney holder. Where the registered sale deed and power of attorney show that the assessee had no right, title, or beneficial interest in the property and acted only as an agent to execute the transfer, the attorney holder cannot be treated as the owner for tax purposes. The transferor's capital gains remain taxable in the hands of the persons who owned the property and received the consideration, and taxing the attorney holder would assess income in the wrong person's hands. en-us Mon, 12 Dec 2022 00:00:00 +0530 Fri, 16 Dec 2022 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431571 Long-term capital gains from the sale of immovable property are assessable in the hands of the owners, not a mere power of attorney holder. Where the registered sale deed and power of attorney show that the assessee had no right, title, or beneficial interest in the property and acted only as an agent to execute the transfer, the attorney holder cannot be treated as the owner for tax purposes. The transferor's capital gains remain taxable in the hands of the persons who owned the property and received the consideration, and taxing the attorney holder would assess income in the wrong person's hands. Case-Laws Income Tax Mon, 12 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431571