9911796707
TMI Blog1978 (6) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... Bhupen Mehta belonged to the assessee for the assessment year 1970-71 ? " (2) Whether, on the facts and in the circumstances of the. case, the Tribunal was justified in law in holding that the amount of Rs. 1,800 was income of the assessee for the assessment year 1970-71 ? " The admitted facts and/or facts found in the proceedings leading up to the present references are, inter alia, that in the assessment year 1970-71, the previous year being 2025 G.D., the assessee was assessed to income-tax. it was found that some income had arisen in the hands of his minor sons in the said assessment year. On being summoned to show cause why the said income in the hands of his minor sons should not be treated as his benami income, the assessee file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee had control over the affairs of the said company. There was a further appeal by the assessee to the Tribunal. It was contended on behalf of the assessee that from the books and the bank account it appeared that the income from the business had accumulated for the benefit of the minors which showed that the business really belonged to the minors. It was also contended that the source of the capital of the minors had been satisfactorily established by evidence. On the other hand, it was contended on behalf of the revenue that there was nothing to show from the records that the assessee was carrying on business as the guardian of the minors and, in the transactions the fact that minors were involved had been kept secret. On the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... benami one or not was basically a question of fact. But he submitted that the burden of proof was on the person who alleged benami. In the instant case, the revenue having alleged benami, had to prove that the transaction was a benami transaction and unless this prima facie onus was discharged there would be no question of the assessee furnishing any evidence. In this context, he cited a decision of the Supreme Court in CIT v. S.P. Jain [1973] 87 ITR 370, where a question of benami was involved. The Supreme Court set aside the finding of the Tribunal which had been confirmed by the High Court holding that the Tribunal had acted on inadmissible evidence, had based its conclusion on conjectures and surmises and on wrong facts. The Supreme Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The facts in that case were as follows : The assessee, a firm, acted as the managing agents of a limited company. The partners of the firm were the shareholders and the directors of the company. In the relevant assessment years the ITO disallowed a portion of the company's claim for deduction on account of expenditure incurred on motor cars on the ground that the same were being partly used by the partners of the managing agents for their private purposes. The assessments of the said partners of the managing agents were consequently reopened and additions were made to their income for the use of the motor cars. The reassessment was confirmed by the AAC but the assessee succeeded before the Tribunal on a further appeal. On a reference, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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