1987 (12) TMI 12

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..... as conducted in the business premises of the assessee and on the residential premises of its members and certain books and valuables were seized. Smt. Kamla Devi and Sri Ashok Kumar Barnwal are the members of the Hindu undivided family besides others. After the search the Department was of the view that the business being carried on in the names of these two members, belonged to the assessee-Hindu .....

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..... , were merely benamidars and the pawning business, in fact, belonged to the assessee. It was clearly held by the Tribunal that the funds were not invested in the pawning business by the individuals but by the assessee-Hindu undivided family. On their being examined, both the members of the assessee Hindu undivided family appeared to be oblivious of the details of the business. The account books, c .....

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