https://www.taxtmi.com/caselaws?id=8913 Movable assets recorded in the assessee's money lending books without separate folio, credit or evidence of funding by the ostensible owner were held to be benami; the tribunal inferred beneficial ownership remained with the assessee and included those movables in his taxable wealth. Where no genuine transfer or change of beneficial ownership is proved before valuation, the statutory provision relied on to exclude assets does not operate to remove movables from the assessee's net wealth, so the movables remain includible. en-us Wed, 06 Dec 1972 00:00:00 +0530 Wed, 17 Jun 2009 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8913 Movable assets recorded in the assessee's money lending books without separate folio, credit or evidence of funding by the ostensible owner were held to be benami; the tribunal inferred beneficial ownership remained with the assessee and included those movables in his taxable wealth. Where no genuine transfer or change of beneficial ownership is proved before valuation, the statutory provision relied on to exclude assets does not operate to remove movables from the assessee's net wealth, so the movables remain includible. Case-Laws Wealth-tax Wed, 06 Dec 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8913