https://www.taxtmi.com/caselaws?id=49454 The Tribunal's conclusions on the constitution and ownership of the firms were upheld because they rested on factual findings from the books of account, bank declarations, financing patterns, inter-firm dealings and surrounding circumstances. Those materials supported the view that the concerns were not genuinely independent, and the profit estimates made by the income-tax authorities were based on adequate material. The omission to discuss every income addition expressly did not create a question of law where the Tribunal had considered the objections in substance. The refusal to register the firms and the treatment of the income as assessable in the hands of the principal firm were therefore sustained, and no referable question of law arose. en-us Tue, 03 Jan 1961 00:00:00 +0530 Sun, 31 Aug 2014 18:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49454 The Tribunal's conclusions on the constitution and ownership of the firms were upheld because they rested on factual findings from the books of account, bank declarations, financing patterns, inter-firm dealings and surrounding circumstances. Those materials supported the view that the concerns were not genuinely independent, and the profit estimates made by the income-tax authorities were based on adequate material. The omission to discuss every income addition expressly did not create a question of law where the Tribunal had considered the objections in substance. The refusal to register the firms and the treatment of the income as assessable in the hands of the principal firm were therefore sustained, and no referable question of law arose. Case-Laws Income Tax Tue, 03 Jan 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49454