Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
The AT affirmed the provisional attachment of agricultural lands and bank accounts as benami transactions. The tribunal found that the properties were transferred to and held by alleged benamidars, with consideration provided by the beneficial owner. The transaction met key definitional requirements: property transferred/held by another, consideration paid by the beneficial owner, and property indirectly benefiting the person providing consideration. The tribunal rejected arguments of fiduciary exceptions, noting the beneficial owner's tight control over transactions through original documents, powers of attorney, and financial records. Consequently, the AT dismissed the appeals and confirmed the attachment under the Prohibition of Benami Property Transactions Act.
The AT affirmed the provisional attachment of agricultural lands and bank accounts as benami transactions. The tribunal found that the properties were transferred to and held by alleged benamidars, with consideration provided by the beneficial owner. The transaction met key definitional requirements: property transferred/held by another, consideration paid by the beneficial owner, and property indirectly benefiting the person providing consideration. The tribunal rejected arguments of fiduciary exceptions, noting the beneficial owner's tight control over transactions through original documents, powers of attorney, and financial records. Consequently, the AT dismissed the appeals and confirmed the attachment under the Prohibition of Benami Property Transactions Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
