https://www.taxtmi.com/caselaws?id=17419 Income from a business standing in another person's name may be assessed in the assessee's hands where the surrounding primary facts show the named proprietor was only a name lender and the business was in substance benami. The Tribunal relied on seized lease documents, bank dealings, guarantees, advances, withdrawals, and papers recovered from the assessee's bedroom to conclude that the third party lacked independent means to own and run the jewellery business. The court treated that conclusion as a pure finding of fact drawn from cumulative evidence and noted that the statutory presumption arising from search material under section 132(4A) remained unrebutted; such a finding is not disturbed in reference unless perverse or unsupported by evidence. en-us Tue, 10 Jun 1997 00:00:00 +0530 Tue, 22 Sep 2009 12:44:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17419 Income from a business standing in another person's name may be assessed in the assessee's hands where the surrounding primary facts show the named proprietor was only a name lender and the business was in substance benami. The Tribunal relied on seized lease documents, bank dealings, guarantees, advances, withdrawals, and papers recovered from the assessee's bedroom to conclude that the third party lacked independent means to own and run the jewellery business. The court treated that conclusion as a pure finding of fact drawn from cumulative evidence and noted that the statutory presumption arising from search material under section 132(4A) remained unrebutted; such a finding is not disturbed in reference unless perverse or unsupported by evidence. Case-Laws Income Tax Tue, 10 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17419