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of The AT upheld the provisional attachment order under the PBPTA, concluding that the transactions constituted benami arrangements rather than genuine sales. The appellants' contention that absence of cash during search negates the allegations was rejected, as concealment prior to search was plausible. The Tribunal held that fictitious transactions involving accommodation entries to route unaccounted demonetized currency qualify as benami arrangements. The failure to verify purchaser details in retail bullion sales did not vitiate the proceedings. The non-consideration of Income Tax assessments was deemed irrelevant to PBPTA proceedings. Retraction of statements by certain appellants was dismissed as afterthoughts, consistent with Supreme Court precedents. Consequently, the appellants failed to establish their claims, and the appeals were dismissed for lack of merit.
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