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TMI Blog2019 (6) TMI 1237X X X X Extracts X X X X X X X X Extracts X X X X ..... appears no sale deed was executed by the assessee in favour of the said Shri V.R. Anbuvelrajan and Shri S. Balamurugan. The assessee claims that the sale was completed when the assessee entered into agreement for sale with Shri V.R. Anbuvelrajan and Shri S. Balamurugan and received the entire consideration after handing over the physical possession of the property. On the strength of the power of attorney executed by the assessee in favour of Shri V.R. Anbuvelrajan and Shri S. Balamurugan, they sold the property for higher consideration. Therefore, it is obvious that as claimed by the assessee, there are two different transactions. One transaction is between the assessee and Shri V.R. Anbuvelrajan Shri S. Balamurugan. The other transac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... attorney in favour of Shri V.R. Anbuvelrajan and Shri S. Balamurugan. According to the Ld. counsel, when the assessee entered into an agreement for sale and handed over the physical possession and received the sale consideration from Shri V.R. Anbuvelrajan and Shri S. Balamurugan, there was a transfer of property as far as the assessee is concerned. According to the Ld. counsel, the said Shri V.R. Anbuvelrajan and Shri S. Balamurugan subsequently sold the property to M/s Jacaranda Properties Pvt. Ltd. for a higher sale consideration. According to the Ld. counsel, the sale made by Shri V.R. Anbuvelrajan and Shri S. Balamurugan to M/s Jacaranda Properties Pvt. Ltd. is totally different one. Therefore, according to the Ld. counsel, the transac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 04.05.2012 with Shri V R Anbuvelrajan (PAN No. AGZPA94O6B) and Shri S Balamurugan. 2. I state that the said agreement was also executed along with me by one Mr. N. Parthasarathy so as to have a perfection to the title of the property as and when the sale deed is executed, upon receipt of advance his advance. 3. I state that the properties agreed to be sold were agricultural lands comprised in survey numbers 179/IB, 212/2, 212/2A and 212/2b located in Siruseri Village, Thiruporur Taluk, Kancheepuram. I further state that upon execution of the sale agreements, I had handed over the possession of the agricultural lands to the prospective purchasers. 4. I further state that there was delay on accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds till the year 2011-12, before I had entered into agreement for sale and handed over possession. The said fact is also duly evidenced by the entries in the revenue records. 7. I further state that I had executed General Power of Attorney dated 14.10.2013 registered as Document Number 14266 of 2013, registered with the Sub registrar of Thiruporur as requested by the buyer, appointing Shri S Balamurugan as my agent in respect of 64 cents of land at Siruseri Village, in respect of which I had entered into the agreement of sale, the possession of were already handed over. 8. I further state that I had executed General Power of Attorney dated 14.10.2013 registered as Document Number 14247 of 2013, registered with th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agricultural land as supported by revenue records and the said transfer was also made during the previous year 2012-13 relevant to assessment year 2013-14 and not assessment year 2014-15. Solemnly affirmed at Chennai this sd/- the 06th day of May 2019. Althi Venkata Narendraraju 5. It is obvious that the assessee entered into an agreement for sale on 04.05.2012 with Shri V.R. Anbuvelrajan and Shri S. Balamurugan. The assessee did not execute any sale deed. Subsequently, in the year 2013, the assessee executed power of attorney in favour of the said Shri V.R. Anbuvelrajan and Shri S. B ..... X X X X Extracts X X X X X X X X Extracts X X X X
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