https://www.taxtmi.com/caselaws?id=57338 Jurisdictional objection to the assessment failed because the connected matter had already decided that point in favour of the Revenue, so the assessment was restored. Additions based on alleged benami holdings, unexplained investment, and power of attorney transactions were deleted because a power of attorney does not by itself establish ownership, consideration, or benami character, and the Revenue did not prove that the relatives held the properties for the assessee. Receipts from sale of agricultural land, plots, and shops were not assessed as business income because the evidence showed prior transfer or capital asset treatment; deduction under section 80T was allowed on shop sale gains. Amounts shown in the names of minor sons were also deleted because no valid basis existed to tax such income in the assessee's hands. en-us Tue, 30 Aug 2005 00:00:00 +0530 Thu, 09 Dec 2010 16:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57338 Jurisdictional objection to the assessment failed because the connected matter had already decided that point in favour of the Revenue, so the assessment was restored. Additions based on alleged benami holdings, unexplained investment, and power of attorney transactions were deleted because a power of attorney does not by itself establish ownership, consideration, or benami character, and the Revenue did not prove that the relatives held the properties for the assessee. Receipts from sale of agricultural land, plots, and shops were not assessed as business income because the evidence showed prior transfer or capital asset treatment; deduction under section 80T was allowed on shop sale gains. Amounts shown in the names of minor sons were also deleted because no valid basis existed to tax such income in the assessee's hands. Case-Laws Income Tax Tue, 30 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57338