2002 (8) TMI 35

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..... y, in the reference, this court does not interfere in the finding of the Tribunal but the finding of the Tribunal as to whether Rawat Electricals, Ramganjmandi, is independent or benami property of Shri Gulzari Lal Rawat appears to be perverse. In such circumstances, this court should interfere. In our view with the above admitted facts, it cannot be said that the business of Rawat Electricals, Ramganjmandi, is the business of the assessee, Shri Gulzari Lal Rawat. The Tribunal has committed error - we answer both the questions in the negative, i.e., in favour of the assessee and against the Revenue. - - - - - Dated:- 6-8-2002 - Judge(s) : Y. R. MEENA., SHASHI KANT SHARMA. JUDGMENT On an application filed under section 256(2) of the .....

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..... s. 8,000 in the business. The Income-tax Officer finally assessed that income from Rawat Electricals, Ramganjmandi, in the hands of the assessee. In appeal before the Appellate Assistant Commissioner, the assessee reiterated the same thing that income from Rawat Electricals, Ramganjmandi, has nothing to do with the assessee. The assessee further stated before the Appellate Assistant Commissioner that it is a business of his son, who invested Rs. 8,000 initially and employed his maternal uncle, Mukut Bihari Lal, who looks after the business and that Rs. 8,000 were invested after disclosure of that amount under the Voluntary Disclosure Scheme. The Appellate Assistant Commissioner also sustained the order of the Income-tax Officer. The same .....

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..... s to whether Rawat Electricals, Ramganjmandi, is independent or benami property of Shri Gulzari Lal Rawat appears to be perverse. In such circumstances, this court should interfere. In our view with the above admitted facts, it cannot be said that the business of Rawat Electricals, Ramganjmandi, is the business of the assessee, Shri Gulzari Lal Rawat. The Tribunal has committed error in holding that the business of Rawat Electricals is the business of the assessee, Shri Gulzari Lal Rawat, and not of Suresh Kumar. In the result, we answer both the questions in the negative, i.e., in favour of the assessee and against the Revenue. Both the reference applications so made stand disposed of accordingly. - - TaxTMI - TMITax - Benami Prop .....

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