Abstract
The process $e^{+}e^{-}\rightarrow\gamma^{*}\rightarrow \pi^{0}\gamma$ was considered using time-like pion transition form factor, obtained in the approach of the Anomaly Sum Rules(ASR). The total cross section and angular distribution of the process was calculated. As the result of the comparison with the data it was shown that ASR approach provides their good description in the regions far from the pole. Also there was proposed a method allowing to give reasonable description of data in the region of pole within the ASR approach. The strong restrictions for the parameters of the modified ASR approach were obtained.
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