Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
The dominant issue was whether the auction purchase funded through a purported loan constituted a benami transaction under the 1988 Act. The Tribunal held that routing consideration through banking channels did not rebut benami character where neither the purchasers nor the lender had demonstrated creditworthiness, and the lender's capacity to advance the huge loan was unsupported by its turnover and partners' knowledge. With no pleaded or proved legitimate source of funds, the consideration and beneficial ownership were treated as unknown, attracting s. 2(9)(D), to which the exception under s. 2(9)(A) was held inapplicable. Consequently, the provisional attachment was upheld and the appeals were dismissed. - AT
The dominant issue was whether the auction purchase funded through a purported loan constituted a benami transaction under the 1988 Act. The Tribunal held that routing consideration through banking channels did not rebut benami character where neither the purchasers nor the lender had demonstrated creditworthiness, and the lender's capacity to advance the huge loan was unsupported by its turnover and partners' knowledge. With no pleaded or proved legitimate source of funds, the consideration and beneficial ownership were treated as unknown, attracting s. 2(9)(D), to which the exception under s. 2(9)(A) was held inapplicable. Consequently, the provisional attachment was upheld and the appeals were dismissed. - AT
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