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2019 (4) TMI 1365 - AT - Income TaxAddition u/s 56(2)(vii)(b) - receipt of property through general power of attorney without consideration - Transfer of rights in respect of a plot - as submitted assessee is merely a Power of Attorney holder and not the owner of the said plot - AO was of the view that the value of the said plot equal to stamp duty value @ ₹ 1 lac per marla was chargeable to tax in the hands of the assessee as “income from other sources” - HELD THAT:- Power of Attorney does not give ownership rights to the assessee and that the document referred to and relied upon to infer transfer of the plot was nothing but the Power of Attorney executed by the lady owner in assessee’s favour. Thus a general Power of Attorney was given to the assessee by Smt. Harsharan Kaur to maintain the property, it cannot be said that the assessee received the property and was liable to pay the tax on the stamp duty value of the said property. See SURAJ LAMP & INDUSTRIES PVT. LTD. VERSUS STATE OF HARYANA & ANOTHER [2011 (10) TMI 8 - SUPREME COURT OF INDIA] and ASSISTANT COMMISSIONER OF INCOME-TAX. VERSUS JANAK RAJ CHAUHAN. [2005 (8) TMI 284 - ITAT AMRITSAR] - Decided in favour of assessee.
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