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of <h1>Delay Condoned; Liquidating Company Not Owner of Benami Property, Share Purchase Doesn't Confer Ownership.</h1> <h3>P. Eswaramoorthy Versus The Deputy Commissioner Of Income Tax (Benami Prohibition)</h3> The SC condoned the delay and clarified that a company under liquidation is not the owner of any benami property. The purchase of shares in such a company ... Ownership of benami assets - company in liquidation - as appellant submits that in this case, the company which is under liquidation is not the owner of any benami property. Purchase of the shares in a company under liquidation does not make the company itself the owner of the benami property. Issue notice Notice will be served by all modes, including dasti. We clarify that we have not stayed the appellate proceedings, which will continue in accordance with law. The Supreme Court condoned the delay and clarified that the company under liquidation is not the owner of any benami property. The purchase of shares in a company under liquidation does not make the company the owner of the benami property. The appellate proceedings will continue as usual in accordance with the law.
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