TMI Blog2003 (2) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... produce any evidence that the subject vehicles were owned and possessed by the assessee, except the fact, that the names of the vehicles were written on the back page - On such material, it cannot be concluded that the vehicles were held benami by the assessee - In the instant case, it is not the case of the Revenue that the vehicles were found in the possession of the assessee. - No substantial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal is a finding of fact. Learned counsel has referred to a decision of the apex court in Chuharmal v. CIT [1988] 172 ITR 250. In the said case the wrist watches were found in possession of the assessee. In view of this fact it was held that it could be deemed to be an income of the assessee. In the instant case, it is not the case of the Revenue that the vehicles were found in the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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