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Capital Asset Transfer via POA u/s 2(47) Confirms Extinguishment of Owner's Rights After Builder's Payment.
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....LTCG - Transfer of a capital asset u/s 2(47) - Power of Attorney (POA) for development of land - compromise deed - as per the deed, various amounts had to be paid by the Builder to the owner so that a complete extinguishment of the owner’s rights in the property would then take place - Since payment and transfer is complete, additions confirmed.....