Benami transaction exception: declaring undisclosed income as asset investment avoids benami status if asset is transferred to the payer. Declaration that undisclosed income invested in an asset shall not be treated as a benami transaction where the asset in the name of a benamidar is transferred to the declarant or the declarant's legal representative, being the person who provided the consideration, within the period notified by the Central Government.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Benami transaction exception: declaring undisclosed income as asset investment avoids benami status if asset is transferred to the payer.
Declaration that undisclosed income invested in an asset shall not be treated as a benami transaction where the asset in the name of a benamidar is transferred to the declarant or the declarant's legal representative, being the person who provided the consideration, within the period notified by the Central Government.
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