ITAT deletes ₹1.25 crore addition on POA receipt
In short
An ITAT ruling deleted a ₹1.25 crore tax addition after a taxpayer received the money as a power-of-attorney holder for three property owners.
The report says the tribunal treated the money as received on behalf of others, not as automatic income. The exact property deal and tax details are not stated.
What the reporting says
An ITAT ruling deleted a ₹1.25 crore tax addition after a taxpayer received money while acting as a power-of-attorney holder for three property owners. The publisher summary says the tribunal found the amount was received on behalf of others, not automatically as the taxpayer’s own income. The immediate consequence is relief for the taxpayer; the exact underlying property transaction is not stated in the available reporting.
Why it matters
An Income Tax Appellate Tribunal ruling in a reported case removed a ₹1.25 crore addition after finding the taxpayer had received the money as a power-of-attorney holder for three property owners. The reported point is that receipt of funds in that role did not, by itself, make the amount taxable income. The available summary does not state the underlying property sale details or any further tax outcome.