https://www.taxtmi.com/caselaws?id=58232 The Tribunal dismissed the appeal, affirming the decision that the assessee could not be considered the beneficial owner of shares held by his minor sons. The Tribunal emphasized that the benefit of ownership must accrue to the individual to be deemed the beneficial owner, which was not the case here. The decision was based on the legal interpretation of beneficial ownership, distinguishing between beneficial interest and legal ownership of shares, ultimately leading to the dismissal of the appeal. en-us Mon, 31 Jan 1983 00:00:00 +0530 Sun, 06 Feb 2011 03:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58232 The Tribunal dismissed the appeal, affirming the decision that the assessee could not be considered the beneficial owner of shares held by his minor sons. The Tribunal emphasized that the benefit of ownership must accrue to the individual to be deemed the beneficial owner, which was not the case here. The decision was based on the legal interpretation of beneficial ownership, distinguishing between beneficial interest and legal ownership of shares, ultimately leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 31 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58232