New Delhi, Sept. 29 -- Receiving money in your bank account does not automatically mean the amount belongs to you for income-tax purposes. A recent Income Tax Appellate Tribunal (ITAT) ruling has highlighted this distinction in a case involving Rs.1.25 crore received by a taxpayer while acting as a power-of-attorney (PoA) holder in a property transaction.

The Chennai bench of the ITAT, in its 22 September 2026 order in the case of Duraisamy Victor vs ITO, deleted an addition of Rs.1.25 crore that the tax department had treated as unexplained money under section 69A of the Income Tax Act. The tribunal found that the taxpayer had received the money on behalf of three property owners under a registered PoA and subsequently passed it on as a...