1995 (2) TMI 24

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..... In an application under section 256(2) of the Income-tax Act, 1961, the Tribunal was directed to refer the following questions for the opinion of this court : " 1. Whether, on the facts and in the circumstances of the case, the learned Tribunal was right in holding that the business in the name and style of Rawat Electricals at Ramganjmandi belonged to Sri Gulzarilal Rawat and not to Shri Suresh .....

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..... 57, and the business of Rawat Electricals was looked after by one Mukut Beharilal, brother-in-law of Sri Gulzarilal. Even no source has been explained of the initial expense of Rs. 8,000 by the assessee. We perused the assessment order and the appellate order in the case of the assessee. We find no reason to hold that the finding of the Tribunal regarding benami is perverse. Consequently, there is .....

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