https://www.taxtmi.com/caselaws?id=8160 Benami ownership of shares is ordinarily a factual inference based on the source of purchase money, lack of contribution by nominal holders, and their non-exercise of shareholder rights. Proof that the deceased provided the consideration shifts the burden to ostensible holders to establish an intended beneficial interest. A Hindu female who is merely a name-lender has no pre-existing interest capable of enlargement into absolute ownership under the Hindu Succession Act. Although the deceased was the beneficial owner, shares registered in benamidars' names were not property he was legally competent to dispose of without a release or declaration; they therefore did not pass on death for estate duty purposes. en-us Thu, 20 May 1971 00:00:00 +0530 Tue, 31 Mar 2009 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8160 Benami ownership of shares is ordinarily a factual inference based on the source of purchase money, lack of contribution by nominal holders, and their non-exercise of shareholder rights. Proof that the deceased provided the consideration shifts the burden to ostensible holders to establish an intended beneficial interest. A Hindu female who is merely a name-lender has no pre-existing interest capable of enlargement into absolute ownership under the Hindu Succession Act. Although the deceased was the beneficial owner, shares registered in benamidars' names were not property he was legally competent to dispose of without a release or declaration; they therefore did not pass on death for estate duty purposes. Case-Laws Income Tax Thu, 20 May 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8160