https://www.taxtmi.com/caselaws?id=68181 The tribunal found that the two firms were not benami concerns of the assessee-company as the Revenue failed to prove the source of funds and establish a benami relationship. The tribunal emphasized the importance of the source of funds and motive behind using benami firms. Consequently, all three appeals by the assessee were allowed, overturning the CIT(A) orders and rejecting the benami characterization of the two firms. en-us Wed, 12 Mar 1997 00:00:00 +0530 Thu, 17 Mar 2011 14:46:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68181 The tribunal found that the two firms were not benami concerns of the assessee-company as the Revenue failed to prove the source of funds and establish a benami relationship. The tribunal emphasized the importance of the source of funds and motive behind using benami firms. Consequently, all three appeals by the assessee were allowed, overturning the CIT(A) orders and rejecting the benami characterization of the two firms. Case-Laws Income Tax Wed, 12 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68181