Delhi H.C : Oswal Tailors is an independent entity and is not the benami of the assessee-company

High Court Of Delhi

CIT vs. Oswal Enterprises (P) Ltd.

Section 256(2)

Y.K. Sabharwal & Lokeshwar Prasad, JJ.

IT Case No. 54 of 1996

4th December, 1996

Counsel Appeared

R.D. Jolly with R.K. Chaufla, for the Revenue

JUDGMENT

BY THE COURT :

On consideration of material on record, the Tribunal has recorded a finding of fact that Oswal Tailors is an independent entity and is not the benami of the assessee-company and the business activity is being carried on by Oswal Tailors in its own name and that no evidence has been brought on record to show that the income from the export business carried on by Oswal Tailors is the income of the assessee-company. The finding of the Tribunal has not been challenged as perverse.

No question of law arises.

Dismissed.

[Citation : 234 ITR 483]

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