https://www.taxtmi.com/caselaws?id=752032 ITAT Ahmedabad allowed the assessee's appeal, deleting additions made by Revenue for rental income from properties allegedly owned benami by the assessee. The Tribunal held that Revenue failed to prove benami ownership, relying solely on a dropped CBI charge sheet without concrete charges. The assessee denied ownership, provided actual owners' names and investment sources. Rental income was properly returned by respective owners and accepted by Revenue previously. Similarly, badla income additions were deleted as the actual proprietor filed an affidavit claiming ownership and had duly returned the income. Interest income from investments in father's name was also deleted as Revenue couldn't discharge burden of proving benami transactions. en-us Wed, 24 Apr 2024 00:00:00 +0530 Thu, 02 May 2024 07:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752032 ITAT Ahmedabad allowed the assessee's appeal, deleting additions made by Revenue for rental income from properties allegedly owned benami by the assessee. The Tribunal held that Revenue failed to prove benami ownership, relying solely on a dropped CBI charge sheet without concrete charges. The assessee denied ownership, provided actual owners' names and investment sources. Rental income was properly returned by respective owners and accepted by Revenue previously. Similarly, badla income additions were deleted as the actual proprietor filed an affidavit claiming ownership and had duly returned the income. Interest income from investments in father's name was also deleted as Revenue couldn't discharge burden of proving benami transactions. Case-Laws Income Tax Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752032