https://www.taxtmi.com/caselaws?id=267476 The High Court upheld the Tribunal's decision in a case involving an Income Tax Act search operation. The Court ruled in favor of the assessee, dismissing the revenue's appeal. It concluded that the revenue failed to prove the benami nature of businesses based on discrepancies in statements recorded during the search operation. Additionally, the Court found inconsistencies and lack of clear admissions regarding benami ownership of other concerns, ultimately ruling that they were not benami of the assessee. en-us Wed, 12 Nov 2014 00:00:00 +0530 Thu, 05 Nov 2015 22:06:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267476 The High Court upheld the Tribunal's decision in a case involving an Income Tax Act search operation. The Court ruled in favor of the assessee, dismissing the revenue's appeal. It concluded that the revenue failed to prove the benami nature of businesses based on discrepancies in statements recorded during the search operation. Additionally, the Court found inconsistencies and lack of clear admissions regarding benami ownership of other concerns, ultimately ruling that they were not benami of the assessee. Case-Laws Income Tax Wed, 12 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267476