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of AT affirmed the Adjudicating Authority's finding that the transaction was benami, holding that funds advanced by the beneficial owner to effect purchase were consideration, not a genuine loan to the benamidar, and thus upheld the Provisional Attachment Order. The tribunal found admissions that the alleged loan of Rs. 15,10,000 remained unpaid, inconsistent financial statements and ITRs undermining the appellant's capital-account defense, and that statutory restrictions necessitated entry in the benamidar's name. Having concluded the property was acquired for the future benefit of the beneficial owner and not pursuant to a bona fide loan or tripartite arrangement, AT dismissed the appeals and refused to interfere with the impugned order.
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