₹1.25 crore received under power of attorney: When can taxman treat property money in your account as taxable income?

3 weeks ago 11

A recent ITAT ruling has clarified that money received by a taxpayer while acting as a power-of-attorney holder does not automatically become his taxable income. The tribunal deleted a ₹1.25 crore addition after finding that the taxpayer had received the amount on behalf of three property owners.

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₹1.25 crore received under power of attorney: When can taxman treat property money in your account as taxable income?

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