The Tribunal held that legally, according to the provisions of the Transfer of Property Act, 1882 any gift of an immovable property needs to be registered. However based on the merits of the case on a beneficial note since the general power of attorney holder had disclosed the income from the sale of plots gifted by his sister in his return of income and discharged his liability to tax on the returned income, in his return of income, the same income could not be taxed once again in the hands of the assessee. Admittedly, there was no revenue loss to the Department on account of the income being taxed in the hands of the general power of attorney holder. The Department also could not bring on record any details regarding the loss of revenue to the Department attributable to the transactions entered into by the assessee in the present case. (AY.  2014-15)