https://www.taxtmi.com/caselaws?id=16674 The High Court upheld the Tribunal's decision, ruling in favor of the Revenue and against the assessee on all issues raised in the case. The assessee, despite claiming not to be the beneficial owner of a liquor business, was held liable for tax obligations as he had signed the contract with the Excise Department, making him the recognized contractor with the State. The Tribunal's assessment of income in the hands of the ostensible owner was deemed justified, and additions on account of investments for the liquor business were confirmed for the assessment year 1974-75. en-us Tue, 05 Aug 1997 00:00:00 +0530 Wed, 09 Sep 2009 12:59:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16674 The High Court upheld the Tribunal's decision, ruling in favor of the Revenue and against the assessee on all issues raised in the case. The assessee, despite claiming not to be the beneficial owner of a liquor business, was held liable for tax obligations as he had signed the contract with the Excise Department, making him the recognized contractor with the State. The Tribunal's assessment of income in the hands of the ostensible owner was deemed justified, and additions on account of investments for the liquor business were confirmed for the assessment year 1974-75. Case-Laws Income Tax Tue, 05 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16674