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1972 (9) TMI 41 - HC - Income TaxReal owner of deposits and shares - When there is evidence to show that deposits and shares in the name of assessee's wife were actually belonging to the wife - Whether interest and dividend from these assets can be included in the husband's assessment - Suffice it for us to say that the evidence on record did not establish that either the purchase in the name of the minor of the lands or the deposit of Rs. 25,000 in the name of Laxmi Ammal was benami for the assessee. As this sum of Rs. 25,000 formed the source for the purchase of shares and the other deposit which yielded the dividends and interest, the income therefrom is not liable to be included in the assessee's income.
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