Prakash Narain vs Commissioner Of Income Tax

Authority: High Court Date: 1980-10-24 AY: 1963-64, 1964-65, 1965-66, 1966-67, 1967-68, 1968-69, 1969-70, 1970-71, 1971-72, 1972-73, 1973-74, 1974-75, 1975-76 Section: 4 Acts: Income Tax Act 1961, Wealth Tax Act 1957 Result: Assessee Citation: (1981) 20 CTR (ALL) 147 : (1982) 134 ITR 364 (ALL) : (1981) 6 TAXMAN 159 Justices: H.N. Seth & M.P. Mahrotra, JJ. Appeal No: IT Ref. NO. 35 of 1976, 3 of 1977 and 49 & 331 of 1978
Whether the Tribunal's finding that three properties were purchased by the assessee benami was justified in law --- Held No. Whether the Tribunal's finding that three properties were purchased by the assessee benami was justified in law and could be included in the total wealth of the assessee --- Held No.

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