https://www.taxtmi.com/caselaws?id=16717 The High Court affirmed that the property purchased in the names of the minor sons was rightfully owned by them, and the income from the property could not be assessed in the hands of the assessee. The Court upheld the Tribunal's decision, emphasizing that the documentary evidence supported the claim that the property was acquired by the minors using loans from third parties. The Court rejected the Revenue Department's argument that the property belonged to the assessee, concluding that there was no evidence to suggest the transaction was a sham. en-us Thu, 06 Mar 1997 00:00:00 +0530 Wed, 09 Sep 2009 16:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16717 The High Court affirmed that the property purchased in the names of the minor sons was rightfully owned by them, and the income from the property could not be assessed in the hands of the assessee. The Court upheld the Tribunal's decision, emphasizing that the documentary evidence supported the claim that the property was acquired by the minors using loans from third parties. The Court rejected the Revenue Department's argument that the property belonged to the assessee, concluding that there was no evidence to suggest the transaction was a sham. Case-Laws Income Tax Thu, 06 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16717