https://www.taxtmi.com/caselaws?id=192106 In a benami inquiry, the Department must prove by direct or circumstantial evidence that the ostensible owner is not the real owner; mere disbelief of the wife's explanation for the purchase funds was insufficient, so the finding that the assessee contributed half the price was unsupported. A commission deduction at 25 per cent of net profits was allowable only for actual payment or an accrued liability recognised by law; because the enhanced commission had not been paid on the revised profits, the deduction was disallowed. en-us Thu, 29 Apr 1954 00:00:00 +0530 Sat, 13 May 2017 10:39:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192106 In a benami inquiry, the Department must prove by direct or circumstantial evidence that the ostensible owner is not the real owner; mere disbelief of the wife's explanation for the purchase funds was insufficient, so the finding that the assessee contributed half the price was unsupported. A commission deduction at 25 per cent of net profits was allowable only for actual payment or an accrued liability recognised by law; because the enhanced commission had not been paid on the revised profits, the deduction was disallowed. Case-Laws Income Tax Thu, 29 Apr 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192106