Though assessee shown as “owner” of demat shares in depository’s books, if he shows to be mere “pledgee”, there is no “benefit” u/s 2(24)(iv)

INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”

Jt. Commissioner of Income Tax

Vs.

Shri Mukesh D. Ambani,

I.T.A. No. 7604/Mum/07

(Assessment Year: 2004- 2005)

ORDER

PER N.V. VASUDEVAN, JM :-

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