Assessee not become beneficial Owner because in account opening form name of the Assesse written as beneficial Owner

Addl. CIT Vs Jatinder Mehra (ITAT Delhi)

It is apparent that assessee does not own any share capital in case of Watergate advisors Limited as well as it also does not controls the above company as he does not have any shareholding or management rights in that

With respect to the mention of the name of the assessee in the account opening form as beneficial owner, assessee has relied upon the decision of the coordinate bench in case of Kamal Galani V ACIT in ITA number 138/Mum/2019 dated 10

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