Sham Transaction

[MALAY CHATURVEDI]

How an alleged sham transaction shall be deemed to be legally rebutted?.

or What are the ingredients to prove a alleged sham transaction to prove as genuine transaction ?.

or what constitutes sham transaction?

AI Summary

How to Legally Counter Alleged Sham Transactions: Present Evidence and Request Cross-Examination for Genuine Claims. A discussion on a forum addresses how to legally rebut an alleged sham transaction and prove it genuine. One participant suggests that if a transaction is deemed sham, it holds no merit. However, if authorities base their view on documents or statements from another party, the involved party should present evidence like weighment slips, cheque payments, broker details, production details, freight payments, and waybills. They should also request cross-examination of the document holders. The discussion emphasizes the importance of providing substantial evidence to counter claims of a sham transaction.